ISLAMABAD (APP): Focus of the Prime Minister’s Youth Loan Scheme has to be on the development of 100,000 businesses in the country, said Maryam Nawaz, Chairperson (PMYLS) while presiding over a meeting of regional heads of NBP from Punjab here Tuesday.
The meeting was convened as part of a series of review meetings to seek the progress and update on the PM’s Youth Loan Scheme’s implementation.
Zonal Heads from the National Bank of Pakistan, Punjab region apprised the Chairperson of various issues in their respective areas like awareness level of the end beneficiaries of the scheme, time lag, problems faced by the applicants, information sharing and its verification and types of businesses the people preferred to develop in each district. In her remarks, on the occasion, the Chairperson said, “it is in the best interest of the nation to utilize optimally the un-tapped potential of growth & investment of country and to stimulate this growth on sustainable basis which is only possible through the economic empowerment of the masses”. She hoped that the loan scheme would help boost the national economy.
The Chairperson was apprised that the verification process had been outsourced due to which the pace of processing the applications has considerably increased.
One of the issues pointed out by the officials was a lack of understanding regarding the concept of feasibility and business plans on part of the applicants. This, they said hampers the loan sanctioning process. They also outlined the reasons for turning down various applications. Mariyam Nawaz, Chairperson (PMYLS) directed bank officials to take notice of grievances and complaints of the people, considering it a national duty. She further added that the regional heads should directly oversee the scheme for the positive results by facilitating the applicants, providing them due guidance for processing of the loan applications as well as helping them understand the core objectives of the scheme.
Only 15 forms submitt for PM loan in Daggar
The meeting was convened as part of a series of review meetings to seek the progress and update on the PM’s Youth Loan Scheme’s implementation.
Zonal Heads from the National Bank of Pakistan, Punjab region apprised the Chairperson of various issues in their respective areas like awareness level of the end beneficiaries of the scheme, time lag, problems faced by the applicants, information sharing and its verification and types of businesses the people preferred to develop in each district. In her remarks, on the occasion, the Chairperson said, “it is in the best interest of the nation to utilize optimally the un-tapped potential of growth & investment of country and to stimulate this growth on sustainable basis which is only possible through the economic empowerment of the masses”. She hoped that the loan scheme would help boost the national economy.
The Chairperson was apprised that the verification process had been outsourced due to which the pace of processing the applications has considerably increased.
One of the issues pointed out by the officials was a lack of understanding regarding the concept of feasibility and business plans on part of the applicants. This, they said hampers the loan sanctioning process. They also outlined the reasons for turning down various applications. Mariyam Nawaz, Chairperson (PMYLS) directed bank officials to take notice of grievances and complaints of the people, considering it a national duty. She further added that the regional heads should directly oversee the scheme for the positive results by facilitating the applicants, providing them due guidance for processing of the loan applications as well as helping them understand the core objectives of the scheme.
Only 15 forms submitt for PM loan in Daggar
