PM launches interest-free loan scheme

[Saifullah Sani]

Prime Minister Nawaz Sharif on Thursday launched an interest-free loan scheme and said that the government would serve the nation without any discrimination, DawnNews reported.

Premier Sharif said Rs2.5bn would be spent annually on the government grants and in the next four years one million people would be able to avail the facility.

The Rs50,000 per person interest-free loan, with relaxed conditions, would form the backbone of the country's economic stability and will be offered indiscriminately to all the citizens of the country, the prime minister said.

The relaxed conditions mean that the loan applicant would not be required to present any guarantor or collateral to avail the loan scheme.

"We have to serve the whole nation regardless of whom they voted for, even those holding protests will be able to avail the loan facilities provided by the government," he added.

The prime minister further said that the loans would be provided to those people who have not taken any bank loans in the past and 50 per cent of the recipients would be women.

Talking about the role of women, Sharif said, "We want women to develop and also contribute to the development of society".

He also said that in the government had allocated a 10 per cent quota for women in the loans being provided to citizens under different development schemes announced by the government last year.

Prime Minister Sharif also said that the establishment of the Dasu hydel project would be Pakistan's largest power production facility generating up to 4,300 negawatts of electricity.

He added that the 4,500 megawatts Bhasha dam would also be constructed which would help eradicate darkness from the country.

PM launches interest-free loan scheme - Pakistan - DAWN.COM

 

[xyxmt]

what can you do with 50000, maybe a vegetable cart

 

[Counter-Errorist]

what can you do with 50000, maybe a vegetable cart

Most people would use it for personal reasons like bikes, PCs, etc and won't be able to pay it back. Then the next government gets stuck in the debt.

 

[xyxmt]

Most people would use it for personal reasons like bikes, PCs, etc and won't be able to pay it back. Then the next government gets stuck in the debt.

yeah but our idiot PM think these loans will form the backbone of our economy

 

[Jazzbot]

Get ready for another lolly pop.

 

[Manticore]

cows come in 50k

 

[Saifullah Sani]

bhi aap jasay sath logoon ko 50k lolly pop.hi lagay gay

 

[SBD-3]

yeah but our idiot PM think these loans will form the backbone of our economy

In Bangladesh Dr.Younus turned around the mass poverty by the helps of loans of far less amounts...Every business doesn't need millions of capital. Some can start with a few thousands. However, I don't know the will of borrowers to use this loan....

what can you do with 50000, maybe a vegetable cart

A small food shop.
Install few sewing machines.
A call centre,
and numours small scale businesses can be started within 50K.

 

[Thorough Pro]

Yes, and may setup a small workshop, or plumber, or carpenter, etc these loans are to help the poor to be able to start something on a very small scale not for mill owners to set up a second or third mill.

what can you do with 50000, maybe a vegetable cart

 

[Leader]

cows come in 50k

which cow? kabhi ao na Sahiwal khushbu laga kay...

p.s.

This is basically being given to noora patwaris.. a petty cash to them for their services in elections.

 

[Dr. Strangelove]

cows come in 50k

150-200k kis dunia main rehtey ho

 

[Chak Bamu]

150-200k kis dunia main rehtey ho

50K for a cow / buffalo is low, but in the range. The prices are seasonal. A cow for 50k today might be worth 100k next year. Plenty of villagers do some itsy bitsy trading like that and make some cash.

While there are concerns about the use of this money, the total amount is not that great.

 

[Cheetah786]

Doesn't take much to start a small business from home. 50,000 in right hands can turn into millions.

 

[Fracker]

50k is for poor class not middle or higher. The lady who used to work at our home brought a cow for 10k, and remaining she were paying in installment. Similarly milk man can get a bike to deliver milk from low cost village to urban area. Villager can buy a tracker and pay advance from this money, and remaining in installment.

If there is a will there is a way, ambanni, modi they all started from very small scale, and today the are rich.

 

[xyxmt]

In Bangladesh Dr.Younus turned around the mass poverty by the helps of loans of far less amounts...Every business doesn't need millions of capital. Some can start with a few thousands. However, I don't know the will of borrowers to use this loan....


A small food shop.
Install few sewing machines.
A call centre,
and numours small scale businesses can be started within 50K.

Dr. Yonus's time was a different time, now a lower middle class's monthly kitchen budget is around 50,000 a month.
with 100000 maybe you can start a small business but not with 50,000. Maybe you should go out shopping one day.

Yes, and may setup a small workshop, or plumber, or carpenter, etc these loans are to help the poor to be able to start something on a very small scale not for mill owners to set up a second or third mill.

Last time i was in Pakistan in 2008, in my parents house there were things that needed fixing since in Pakistan people are not even capable to fixing anything as small as putting one screw, so I went to a plumber shop to buy some nails and screws, all together I bought things that fit in my shirt pocket, cost me Rs. 900
but if you think a plumber or carpenter can start business with 50,000 then all the power to that carpenter and plumber.