ISLAMABAD: Pakistan’s Prime Minister Mian Muhammad Nawaz Sharif on Tuesday approved a Rs 3.5 billion interest free loan scheme.
According to details, PM Sharif chaired a high-level meeting here on Tuesday and received a detailed briefing on the micro-finance scheme.
During the meeting officials from the Finance Ministry informed that interest free loans of Rs50,000 will be provided for economic activities.
The interest free loans will be provided under the NFC award formula.
One million people will benefit under the scheme which will start from the third week of June.
It is pertinent to note here that the PML-N government faced severe criticism on an interest based Youth Loan scheme, such a scheme was widely demanded.