Interest-Free Loan Program 2020
The government of Pakistan has decided to introduce an interest-free loan “Insaaf Rozgar scheme” for the skilled students. Insaaf Rozgar Scheme aims to encourage youth to start their business or any setup, control unemployment, and reduce poverty. The loan distributed as per Islamic banking rules. Therefore, Usman Dar and Raza Baqir conduct a meeting to discuss the details of the interest-free loan. It is the best opportunity for job seekers. However, it is the golden offer for the students who haven’t started their own business due to poverty.
Furthermore, 78% of loans have been allocated for men, while the remaining 20% loan is for women. The remaining 2% of funds are for particular youth (disabled or other). This scheme launched in April 2020.
See Also: Kamyab Jawan Loan Program Portal
Scheme Objectives:
- Develop entrepreneurial culture.
- Socio-economic Development.
According to the details, the loan distributed to districts under the Provincial Finance Commission Award. The loan decision was taken during the provincial cabinet’s meeting held last Thursday. The interest-loan scheme amount ranges from Rs 50,000 to Rs 1 billion. PTI government launches one of the most significant interest-free loans in the history of Pakistan
Eligibility Criteria for Insaaf Rozgaar Scheme:
- Candidate must have a Computerized National Identity Card.
- Age will be 18 to 50 years
- Preference given to the degree candidates from HEC recognized institute.
Usman Dar said that many youngsters had requested the Government to provide free loans under Islamic banking rules. The loans distributed through private banks. But the person who needs a loan must have a clean credit history. The youth have 33 months for repayment.
How to apply:
- Interested candidates can submit their application form in the bank of Khyber.
- All fields are mandatory.
- Fill the application form carefully.
- Send this application form to the given address.
See Also: PM Kamyab Kisan Program 2021
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