Published On: Fri, Dec 20th, 2013
Published in Category: Islamabad

Pakistanis download 3 million online forms for loan scheme

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Islamabad: Gaining huge popularity across Pakistan day by day, the Prime Minister’s Youth Business Loan Scheme has gained formal response of at least 3 million citizens, according to a parliamentary secretary.

Rana Muhammad Afzal Khan, the parliamentary secretary, revealed the online statistics of the scheme; claiming that approximately 5 million forms have been downloaded while 3 million forms have been submitted.

However, the loan scheme faced strict criticism from the religious circles of the country due to the involvement of interests in the provided money for business.

The huge number of forms’ submission was seen after special notices of members of national assembly clarifying that the loan will not be given to every person.

Earlier in last week, online statistics of Small and Medium Enterprises Development Authority (SMEDA) showed that at least 2.1 million Pakistanis downloaded application forms seeking business loans under the Prime Minister Youth Loan Scheme.

Newly announced scheme for provision of business loans amongst Pakistani youths on merit basis is collecting large-scale popularity amongst the citizens as 2.1 million online forms have been downloaded till now while 1.1 million people got the forms in last two days.

According to SMEDA website records, 56 feasibility studies in English language were uploaded on the official web before two months.

Pre-feasibility forms’ download were made before the formal announcement of PM’s loan scheme while in last two days 1 million more downloads were recorded.

SMEDA has established 25 special youth centres in sixteen prominent cities for the purpose of youth guidance, consultancy and technical information.

Pakistanis have praised the initiation of the loans’ scheme and called it as a significant positive step of the federal government.
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