Jun 27

Prime Minister Launches Qarz-e-Hasna Loan Scheme 2014

PM Free Loan SchemeQarz-e-Hasana

Prime Minister’s Qarz-e-Hasna Scheme is basically a micro finance facility for the poor people in urban and rural areas. It is an initiative for coping with industry crisis. The aim is to remove poverty and make people improve their standards of living.

50% financing would be for women to empower them to earn for the family as well. It is going to be a interest free financing comprising of 250,000 loans of average Rs. 25,000 each for the year 2013-14. People belonging to less privileged areas would be given preference so they can improve their lives and transform themselves from takers to givers.

people was a risk as they would not pay back, but he opposed such ideas. “I told them not to doubt the integrity of poor people, as they are the ones, who can lay down their lives for Pakistan and it is my agenda to give them loans,” Nawaz Sharif remarked amidst loud applause from the beneficiaries of the scheme.

The Prime Minister also mentioned other schemes initiated under the PM’s Youth Programme, including the Youth Loan Scheme,Nawaz Sharif Free Loan Scheme Ceremony

Fee Reimbursement Scheme and Laptop Scheme, which he said, would prove as the backbone of the country’s economic development.“The doors of banks remained closed for the poor during the last 65 years and the present government has opened these doors for the first time for them, as the national kitty does not belong only to a special class, rather everyone has the right to it,” he remarked.

The Prime Minister said under the interest-free loan scheme, Rs 3.5 billion had been earmarked this year, which would be raised to  Rs 10 billion during next four years. The loan amount ranging from Rs 10,000 to Rs 50,000, would benefit the poor for establishing small businesses.