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TMCNet:  PMYBL Scheme to bring 100b into business cycle

[December 12, 2013]

PMYBL Scheme to bring 100b into business cycle

(Daily Pakistan Today Via Acquire Media NewsEdge) The Prime Ministers Youth Business Loan (PMYBL) Scheme would bring more than Rs 100 billion into business cycle and will generate huge economic activity, said SMEDA CEO Sardar Ahmad Nawaz Sukhera on Thursday.

Sukhera said that the allocated amount of Rs 5 billion for the scheme will be used to pay difference of mark up on bank loans and the concessional rate of mark up in the YBL scheme while the actual amount of loans will be provided by banks.

Actual amount of loans will hopefully cross Rs 100 billion mark," he said.

The SMEDA CEO said 100,000 people will be given loans through the scheme and almost 10 million people will take benefit out of it, including family members of the young business holders and those who will get jobs through these businesses.

When a person will start business he will purchase inputs from some other person this will generate a business activity having far reaching impact on economy," he said.

The government has rightly used the private sector for employment as the private sector is engine of economic growth,” he said.

Sukhera said the SMEDAs role for the scheme was just of an advisory as it provided `know how to the interested people for starting businesses. He said the SMEDA website was a one stop solution to all of the questionnaires related with it.

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