The PTI government has proposed lowering the interest rate on bank loans for women running businesses to help them launch their trade under the Prime Minister’s Youth Business Loan Scheme
The government’s aim for this proposal is to create more job opportunities for women in the country, by making it easier for young females to start their own small business. In a cabinet meeting chaired by Imran Khan, members suggested that the government reduce 0.5-1% on borrowing by women.
The Ministry of Finance has been instructed to consider the proposal for further rate subsidy.
The Finance Division had briefed present members that the Loan Scheme was launched with the prime objective of providing subsidised loans for the unemployed youth, particularly those with complete education and between the ages of 21 and 45 years, to help establish new businesses or extend existing business enterprises.
The scheme was first launched by PM Imran Khan in December 2018 through National Bank of Pakistan and First Women Bank Limited. Afterwards, 16 other banks also launched their financing products under the scheme.
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