PM youth business loans given to around 6000 persons with 94 pc recovery so far: Ms Leila Khan, Chairperson PMYP

 LAHORE, March 12 (APP): Prime Minister's Youth Business Loan (PMYBL) scheme,being run with complete political impartiality, has so far disbursed about Rs 4 billion among around 6000 talented people with 94 percent loan recovery.

    Leila Khan,Chairperson PMYBL said this while talking to media at the launch of this scheme here on Thursday."HBL has adopted our product as this bank will disburse some two billion rupees under PMYBL", she expressed with satisfaction.
    Responding to media queries, Leila said the fact that a number of reputable,major national level banks have joined this scheme means that they have found it business-friendly
and reliable investment.
   To a question,she said that PMYBL scheme has 50% quota reserved for women. "Anyone could verify our claims from the National Bank",she said adding that a monitoring system of these Business loans,being given on 8 percent rate,is well in place.
  She told media that Sindh Bank, Habib Metro Bank Meezan bank and Summit Bank have adopted the PMYLS,while dialogue with MCB and UBL was under process.
     She said that all the private banks are autonomous bodies
and are providing loans purely on merit after verification and reviewing the business plans without any government involvement.
    To a question about apprehensions regarding misuse of the loans she said,"All the banks are disbursing the loans from their own money and those at the helm of PMYL are only monitoring the process".
   There are many success stories of the PMYL scheme including 94 percent recovery rate at National bank of Pakistan,she reiterated.
     To a question, she responded that those who did nothing for the nation were criticizing,but she said that constructive criticism is always welcome if it is for the sake of improvement.
On the occasion,senior officers of HBL briefed Leila Khan about the process adopted by them for the loans disbursement. Some young people who have applied for this loan, which has Rs 2 million upper limit,talked about their businesses plans to be taken up with the loan amounts.

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