Sunday, 10 June 2012 09:45
KARACHI: Sindh government has allocated funds of Rs 12 billion in Annual Development Programme (2012-13) to provide loans to around 35,000 unemployed youngsters under the 'Waseela-e-Haq Sindh', Business Recorder has learnt on Saturday.
Provincial budget would be tabled in Sindh Assembly on June 11 (tomorrow). Finance Minister Syed Murad Ali Shah would present this fifth budget of PPP-led government.
Informed sources inside the Planning and Development department said the Sindh government had launched this scheme with close co-ordination of BISP because BISP was already operating schemes like this. BISP has the complete data of youngsters of the country including Sindh with qualification of minimum Matric and age between 19 to 35 years.
President Asif Ali Zardari had inaugurated this scheme in January 2012 at Bilawal House. Following this, the Sindh government had allocated Rs 12 billion in development outlay, they said.
Through this scheme, every jobless youngster would be given loan of Rs 0.3 million through computerised balloting, Sindh Bank would disburse the amount of loan to every eligible youngster, they said.
A high level official familiar with this scheme told Business Recorder that loans would be interest-free and be given on easy-instalments, adding that first one year would be counted as grace period.
Eligible candidates would be given short trainings with business counselling. BISP teams would monitor them whether they are doing businesses or not, they added.
He said around 35,000 youngsters meant about 35 youngsters from every union council would be given loans of Rs 0.3 million which would gear-up economic revolution in the lives of more than two million families, he added.
Source further said that a scheme of 50,000 plots was also part of ADP 2012-13, which would be given to poor people of Sindh.
According to concept paper of this scheme available with Business Recorder, plots would be identified in almost all districts of province which would be given through computerised balloting.
The Board of Revenue would be asked to identify government land in all districts in this regard, sources concluded.
It may be noted here that Sindh's development outlay for FY-2012-13, has already been finalised by the authorities as Rs 221 billion, with allocations of Rs 161 billion for provincial government schemes, Rs 20 billion for district government projects and Rs 37 billion for foreign-funded (loans/grants) schemes.