ISLAMABAD, Jun 24 (APP): President Dr Arif Alvi Thursday urged parliamentarians and media to create awareness among women as well as differently abled persons to avail government’s exclusive loan facilities to help them establish their own businesses and achieve financial independence.
The president, addressing a ceremony to distribute cheques among the successful applicants for business loans and certificates among the participants of free courses on skilled education, said that the business loan applications received by the banks from women was just five percent of the total amount they had specified for them.
Similarly, he said the government had announced to provide Rs 2,000 each a month to around two million differently abled persons but only 350,000 such people registered with the government to avail the facility.
First Lady Samina Alvi, Special Assistant to PM Usman Dar, President of First Women Bank Shahida Javed, Chairman NAVTTC Syed Javed Hassan, parliamentarians as well as the beneficiaries of the Kamyab Jawan Program attended the event held at Aiwan-e-Sadr.
The president, who earlier distributed cheques and certificates among the beneficiaries, repeatedly stressed the need for promotion of artificial intelligence and computing what he said could change country’s fate by creating immense employment opportunities for youth.
He said since last two three years, his initiative of artificial intelligence and computing and free courses on the subjects had created a vibrancy in the country which would ultimately open up new avenues for progress.
He said besides creating business opportunities, the Kamyab Jawan Program was also putting the youth on the course to achieve financial independence.
He said consequent to the government’s prudent policies especially for supporting the construction industry, the earnings of the labourers had been doubled while the textile industry was facing shortage of skilled labor.
He said ideally the skilled workforce should serve in the country; however they could work for foreign organizations until the intellectual buildings were established in the country to absorb those skilled workers.
Speaking high of National Vocational and Technical Training Commission (NAVTTC) for training the youth in multiple disciplines, the president called for opting the short cuts to equip the people with different skills and make them an earning hand.
He exemplified that China had steered around 800 million people out of poverty just by equipping them modern skill trainings who did not only earned sustenance for themselves but also created jobs for others.
The president also called for creating ease and facilitation for the women loan applicants as the banks were not yet used to facilitate the interest free loans or without any security.
He also underscored the need for establishing systems to guide the loan applicants to prepare the feasibility of their business idea, though he said the Kamyab Jawan Program’s website provided such guidelines in this regard.
He said a one window operation had also been started under Ehsaas Program to facilitate the applicants of business loans and other such schemes.
“There is need to put the women on course towards Kamyab Jawan Program. We have to remove the barriers. Whenever they (women) go to any bank, there should be someone to guide them for feasibility preparation and loan processing,” he urged.
President Alvi said the State Bank had eased the loan process for housing loans as the applicants could also provide utility bills, tenancy agreement or any other evidence to make the banks ascertain their loan limit as well as judge the capacity to pay the installments.
SAPM Usman Dar said that following inputs from youth, the Kamyab Jawan Program was based on three E’s of Environment, Education and Engagement, calling it a first program designed after consultation with the potential beneficiaries.
He said having a bit slowed down due to the pandemic, the program has got the momentum since last few months.
He said around 200,000 women had applied for loan and 2500 of them had already been extended loan worth Rs 11.5 billion which had created further 5,000 jobs.
He said as per Prime Minister Imran Khan’s vision, women’s access to finance had been ensured under this program as Rs 25 billion of total Rs 100 billion budget had been specified for women.
Dar said through 21 banking partners, the loan applications were being processed transparently and urged the women to avail the facility. The only things women would have to do was to prepare the feasibility of their business idea and satisfy the bank for approval of the application.
He said currently the loan up to Rs 1 million was being extended without any security which manifested PM’s trust on the start-ups.
He said on request of the women chambers, loan up to Rs 0.5 million had been declared interest free and abolishing upper age limit for the women applicants. The limit of loan without security has been enhanced from Rs 1 million to two million and maximum loan limit from Rs25 million to 50 million.
He said the previous government had wasted Rs 26 billion on laptop scheme but the incumbent government introduced schemes to equip the youth with modern skills to make them financially dependent.
NAVTTC Chairman Syed Javed Hassan told the gathering that around 170,000 youths would be skill trained in hi-tech disciplines like artificial intelligence and computing besides others. Around 25,000 had already obtained certificates, he added.
He urged the beneficiaries to enroll more courses to enhance their knowledge and competence. Moreover, the addition of Pakistan in Amazon’s seller list would also bring about numerous opportunities for the entrepreneurs, he added.
Earlier, President of First Women Bank Shahida Javed said the bank had extended around Rs200 million loans during last one and half year as per its vision to empower the women.
She said the bank was actively taking part in government’s youth entrepreneurship as well as housing scheme.
The event also featured playing of two documentaries highlighting the success stories of Kamyab Jawan Program with the women beneficiaries appreciating the initiative to help uplift their financial position.