The Khyber Pakhtunkhwa (KP) government is going to introduce an interest-free loan program ‘Insaf Rozgar Scheme’ for the youth. The youngsters will be able to acquire interest-free loans ranging from Rs. 50,000 to Rs. 500,000 under this program with 33 months for repayment with a grace period of three months. The provincial cabinet decided to use the leftover funds of Rs. 2 billion from the ‘Khud Kalafat Scheme’ to launch this initiative across the province.
78 percent of funds have been allocated for men while 20 percent for women and the remaining two percent for special persons. Any permanent resident of the districts aged between 18 and 50 with an executable business idea can avail a loan. The borrower must have a clean credit history.
Source: Pro Pakistani