Prime Minister’s Youth Loan Scheme begins for PU students


Lahore, The Prime Minister’s Youth Loan Scheme has also been started at Punjab University Lahore. Under this scheme students will be able to initiate new business or enterprise. All the students of PU are invited to apply for this scheme. The respective students have to submit the short detail about the proposed business plan or scheme to their department’s heard in next 24 hours. The respective student must have 10% of basic money beside on requested loan amount. More details can be seen at PU official website
The university will select top 50 students and will be invited in PM House, Islamabad on November 25, 2013.
Main feature or this scheme is: Loan up to Rs. 2 Million (Rs. 0.5 Million to Rs. 2 Million), only 8% markup, amount will be distributed by NBP (National Bank of Pakistan) & FWB (First Women Bank).

Total loans are 1 lakh and all Pakistani students between age 21 to 40 years are eligible to apply. Minimum educational qualification is Middle. Students need to submit the short description about the project and one personal guarantee must be given. Only 15 day approval time required and on merit basis the loans will be provided to respective candidates. With the financial support the government will bear 50% of the losses focus to the maximum of 10% of the loan amounts.

The University of the Punjab was established in 1882 which is the largest and the oldest seat of higher learning in Pakistan. This was the first university established in the sub-continent in Muslim majority area. Two eminent laureates are from this University showed great significance for its academic and research excellence.

Sources by: ilmkidunya