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TMCNet:  PMYBL Scheme to bring 100 bln into business cycle

[December 14, 2013]

PMYBL Scheme to bring 100 bln into business cycle

(Frontier Star (Pakistan) Via Acquire Media NewsEdge) The Prime Minister’s Youth Business Loan (PMYBL) Scheme will bring more than Rs 100 billion into business cycle and will generate huge economic activity.

CEO SMEDA Sardar Ahmad Nawaz Sukhera said talking to reporter here on Thursday.

He elaborated 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 CEO SMEDA said 100,000 persons 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 SMEDA’s role for the scheme was just of an advisory as it provided ‘know how’ to the interested persons for starting businesses.

He said the SMEDA website <> was a one stop solution to all of the questionnaires related with it.

The women should preferably depend upon the SMEDA website instead of moving out to collect information for the PMYBL Scheme, he said.

Entire information and documents of the scheme along with 56 pre-feasibilities of various business sectors were available in Urdu language as well for convenience of semi-educated young men and women, he informed.

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