Ms. Leila Khan, chairperson Prime Minister’s Youth Programme held a meeting with representatives of Ministry of Finance, State Bank of Pakistan, Meezan Bank and Summit Bank on Prime Minister’s Youth Business Loan Scheme, in order to take stock of implementation of the scheme by Meezan Bank and Summit Bank.
Chairperson was briefed that Meezan Bank has disbursed Rs. 148 Million among 200 borrowers, especially in transport sector with 100% recovery rate. Commercial transport vehicles like Ravi, Bolan and tractors are being financed in Islamic financing mode under the scheme. As far as Summit Bank.is concerned, it has disbursed Rs. 169 Million among 180 borrowers all over Pakistan, with 68% loans disbursed in Sindh. Recovery rate of the loans is 100%, which is a remarkable achievement in the context of running banking practices, not only nationally but internationally as well.
Ms. Leila Khan appreciated the management of both Meezan Bank and Summit Bank for their commitment to the scheme in providing financial opportunities to the potential entrepreneurs in the country, and asked them to further expand their operations in order to enable more people for establishing their own businesses. She directed Ministry of Finance to provide data of pass out trainees of Prime Minister’s Youth Skill Development Programme with State bank of Pakistan for its onward sharing with the banks, so that properly trained youth could start their own businesses by securing loans under the scheme
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