The federal cabinet Tuesday approved ambitious 'Kamyab Jawan Programme' to empower the youth economically. Speaking at a press briefing, the Prime Minister's Special Assistant on Information and Broadcasting Dr Firdous Ashiq Awan explained that under the programme, the youth will be able to secure a loan ranging between Rs 100,000 and Rs 5 million.
She said the programme has been divided into two categories, adding that under the first category banks will provide a loan of up to Rs 500,000 at six percent mark-up rate with lending equity of 10 percent of the amount applied. Under the second category, an applicant can get a loan of up to Rs 5 million at a mark-up rate of eight percent and equity ratio of 20 per cent, she added. Dr Awan further said 25 percent of the loans will be granted to women under the scheme.
Awan while criticising the opposition's behaviour said that it should reply to the queries of the anti-graft watchdog instead of attacking National Accountability Bureau (NAB), hurling threats and dragging the media. She said that the NAB is a national institution, adding that it has the right to present its stance. The SAPM went on to say that the disinformation will spread if the Bureau wouldn't speak.
Awan said, "The NAB is free from any sort of government pressure but it is the responsibility of the government to facilitate the anti-graft agency where needed. The opposition can approach courts if they have complaints with the NAB." She added the Bureau is working within its constitutional ambit.
Dr Awan said the cabinet also pondered over the rupee depreciation and its impact on inflation. The cabinet was informed that Prime Minister's Advisor on Finance Dr Abdul Hafeez Shaikh will unveil a long-term economic plan on upcoming Saturday. She said the cabinet resolved to bring the economy out of crisis with the strength of the people.
She said the cabinet approved all the decisions of the Economic Coordination Committee (ECC) including ratification of grants to K Electric to keep Karachi free of load-shedding during Ramazan. She said Minister for Federal Education and Professional Training gave a detailed and comprehensive briefing on a new education policy during the cabinet meeting. She said the policy will be developed as per the mandate of the federal government and necessary assistance and facilitation will be provided to provinces for its implementation.
She said the cabinet extended heartfelt condolences over the sudden demise of cabinet member, Federal Minister for Narcotics Control Sardar Ali Muhammad Mahar. She said that Prime Minister Imran Khan and cabinet members expressed sympathies with the bereaved family members and prayed to Allah Almighty to rest the departed soul in eternal peace and grant courage to the bereaved family to bear the irreparable loss with fortitude.