Govt to give loans for establishing Utility Stores franchise under Kamyab Jawan Program

[Morpheus]

Govt to give loans for establishing Utility Stores franchise under Kamyab Jawan Program

• Loans will be given for the establishment of Utility Stores franchises ensuring that loans are secured.

Ali Ahmed Jul 10 2020

The federal government will provide loans to youth for the establishment of utility stores franchises, informed Minister for Planning Development & Special Initiatives, Asad Umar.

Chairing a meeting on PM Kamyab Jawan Programme for establishing utility stores franchises across Pakistan, Asad Umar was told that around 250,000 applicants have applied for loans under PM Kamyab Jawan Program for opening up retail stores.

As per details, loans under PMKJP can be extended to the already established franchises and also for setting up new franchises under the umbrella of Utility Stores Corporation. The federal minister said that under the Phase-II of PM Kamyab Jawan Program in collaboration with the Ministry of Industries, loans will be given for the establishment of Utility Stores franchises ensuring that loans are secured.

The stores would effectively play the role of market stabilizers, said the federal minister.

The Planning Minister highlighted that existence of Enterprise Resource Planning (ERP) is a prerequisite for the successful monitoring and execution of Utility Stores' franchises.

Meanwhile, the Ministry of Industries would assess the proposed plan of lending to about 1000 operational franchises under Utility Stores Corporation and will also work for a model for establishing new stores. Furthermore, lending for opening franchises would be scaled up after the successful launch of the pilot project.

The meeting was attended by Hammad Azhar, Minister for Industries, Usman Dar, SAPM on Youth Affairs, MD Utility Stores, and senior government officials.

https://www.brecorder.com/news/4000...y-stores-franchise-under-kamyab-jawan-program

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[Oracle]

No plan
no experience
no vision

Nothing .. this is good for nothing .... and they complained that PMLN and PPP schemes were fraud and full of corruption.

Economy ....down
Inflation / no jobs rate ---- up
Business ........... down
Loans ..............up

Even a metro phase 2 project in islamabad was 90% completed , they didnt started the metro from new airport to G-9 , just becuase it was started by PMLN.

this PTI govt is only good in opposition , where they can shout .... thats it

 

[American Pakistani]

Loans should be provided to establish industry (especially export oriented) but these fools are giving away cash for "stores"... Wtf?

In these stores these naujawans will sell more imported maal. Someone need to tell them Pakistan is not America or Europe, it is not a consumer market and once the buying power of awaam finishes, these naujawans will be bankrupt and will protest govt and cry that govt is bad as they don't approve loan forgiveness.

Even loans provided to people who want to establish export oriented industries, should be done with thorough check procedures.

While e commerce and e sports is being attacked left right center by these oldies who have no knowledge of evolving world.

 

[I S I]

Great. Poor Pakistanis selling Imran khan's delusion on stores. That's what PTI really needed.

 

[Hiraa]

More utility stores will require more imports. We need to focus on creating export based industries to help us reduce the trade deficit. God, this is not how we should use those loans.

 

[Morpheus]

Loans should be provided to establish industry (especially export oriented) but these fools are giving away cash for "stores"... Wtf?

In these stores these naujawans will sell more imported maal. Someone need to tell them Pakistan is not America or Europe, it is not a consumer market and once the buying power of awaam finishes, these naujawans will be bankrupt and will protest govt and cry that govt is bad as they don't approve loan forgiveness.

Even loans provided to people who want to establish export oriented industries, should be done with thorough check procedures.

While e commerce and e sports is being attacked left right center by these oldies who have no knowledge of evolving world.

More utility stores will require more imports. We need to focus on creating export based industries to help us reduce the trade deficit. God, this is not how we should use those loans.

By opening these stories, they creating a supply chain for local brands to sell. They offer both imported and local brand. Imported stuff are being taxed at a high rate, and as such they are selling at high rate. Those that can afford it will buy it. Example, imported Jam is priced at 800 to 1000pkr a jar. Similar local brand is 300 to 400PKR a jar. Which ever the customer buys, the price will reflect the import tax/custom duty that has been added.

Export everything is not the answer, we should also try to create demand locally for our brand. This way, if anything disrupted our export, we won't be affected that much (like China, and to certain degree Turkey).

 

[Dil_Pakistan]

Giving loans for opening utility stores is not the only thing Govt. is doing under the Kamyab Naujawan Program. As far as my understanding goes, they are also processing applications/giving loans for start-ups.Loans for USC is one aspect.

This is just like the Ehsaas program which is often confused to be only BISP but in actuality it is alot more than that and encompasses alot more programs within it.

One thing the fellow members should know that unfortunately not all youth is standard skilled or educated. Those having certain skills or education/experience will go for and apply for start-up programs. To build skills such as in IT related, Govt. is also offering programs. Less skilled/educated and un-employed will be the ones imo this USC loan program may mainly target or give preference to.

Also i think when this program was initially talked about, i remember this was the time when there was serious inflation issue on food items etc. I think the idea of Govt. was to expand their reach of subsidized goods and likewise provide employment opportunity to the people.

 

[American Pakistani]

By opening these stories, they creating a supply chain for local brands to sell. They offer both imported and local brand. Imported stuff are being taxed at a high rate, and as such they are selling at high rate. Those that can afford it will buy it. Example, imported Jam is priced at 800 to 1000pkr a jar. Similar local brand is 300 to 400PKR a jar. Which ever the customer buys, the price will reflect the import tax/custom duty that has been added.

Export everything is not the answer, we should also try to create demand locally for our brand. This way, if anything disrupted our export, we won't be affected that much (like China, and to certain degree Turkey).

Lol, I don't know about you but most of us already know how they cut corners in Pakistan to avoid taxation. Furthermore, taxed high or low, the point is that it is a consumer in Pakistan who will be paying for imported maal in PKR devaluing the already destabilized PKR even further resulting in shrinking economy and inflation. Kindly study the basics of economy sirji, don't fall for the jali degree holders.

 

[Morpheus]

Lol, I don't know about you but most of us already know how they cut corners in Pakistan to avoid taxation. Furthermore, taxed high or low, the point is that it is a consumer in Pakistan who will be paying for imported maal in PKR devaluing the already destabilized PKR even further resulting in shrinking economy and inflation. Kindly study the basics of economy sirji, don't fall for the jali degree holders.

You are assuming all these stores are just selling imported good, and all of Pakistan wants to buy the expensive imported goods. With the dollar at high rate, the cost of the good before custom/tax/delivery is still expensive compared to local ones. Before, Ishaq Dar used our Fx reserves to keep the dollar value low. This allowed importers to import goods that were cheaper then local brands. Now with the Rupee true value, its hard for imported goods to be cheaper.

https://profit.pakistantoday.com.pk...erms-since-2017-close-to-fair-value-says-iif/

Right now there are just a handful of utility store franchises. New entries in the market can play a role in bringing down the high prices attributed by monopolies. In Pakistan, not everyone can afford the high imported goods. Only people that can afford only consuming high priced imported goods, are the top elite class, and maybe the upper middle class. Together they don't even make up 10% of the population. Almost 60% of the population consists of lower and middle class, that still go for saving every rupee option.

https://fp.brecorder.com/2017/10/20171031230943/

Lastly, our tax system is bad. Everyone know that. Its outdated by years, and needs a overhaul. That being said, there has been tax reforms that have made it difficult to import goods without govt collecting custom/tax on it. Its not 100% airtight, but its made a big difference. Policies like registering mobile phones, has help cut down on illegal imports. Govt has also made it stricter for business to keep proper records of the sales. Without those present, govt would not refund the taxes business were entitled to. This meant no more under reporting sales, over reporting purchases, etc. Against its not 100% air tight, but its being worked on.

https://propakistani.pk/2019/11/16/pakistans-mobile-phone-imports-increased-110-in-2019-report/

https://www.brecorder.com/news/4000...nflated-claims-unreported-sales-prime-factors