The Provincial Benevolent Fund Cell, NWFP had disbursed Rs 1.458 billion interest free loan among 14,120 provincial government employees from BPS-1 to BPS-15 during the previous fiscal, said Secretary Benevolent Fund Board Syed Kamran Shah.
Talking to APP here, he said, 14,120 government employees had applied for seeking interest free loans under different categories of the scheme initiated by NWFP Finance Department in the year 2005-06.
Giving break-up of the loans, he said 134 applicants had applied for bicycle advance, 2,146 for motorcycle advance and 11,840 for house building advance in 2006-07. The ceiling for bicycle advance is Rs 4,000, motorcycle advance Rs 39,900 and house building advance Rs 124,800. Moreover, he said, Rs 40 million interest free loan was doled out among 557 applicants through draw in 2006-07.
He said, in all 79 cases of the motorcycle advance and 821 of house building advance were declared ineligible by the committee and found 13,219 applicants eligible for seeking interest free loans.
Kamran said Rs 1.375 billion were disbursed under the house building advance, Rs 82.47 million for motorcycle advance and Rs 536,000 for the bicycle advance in the previous fiscal year.
In reply to a question, he said, initially this scheme was launched for the government employees from BPS-1 to BPS-5 but later it was extended to the employees of BPS-15 as well effective from financial year 2006-07. He elaborated that the process of invitation of forms, preparation of final list, scrutiny of applications and arrangement of draw and submission of final winners list to the Accountant General NWFP and Finance Department has been assigned to the Provincial Benevolent Fund Cell.
He said that the first draw for the grant of advances was held on May 30, 2006 in which Rs 29.984 million were disbursed among 385 declared winners out of a total of 1,834 applicants. Rs 665 is deducted per month from the salary of the employee seeking motorcycle advance and Rs 1,040 deducted per month under house building advance, he added.
The employee with five years minimum service and maximum age 55 can apply for motorcycle advance and for house building advance, ten years minimum service and maximum age was 55, he explained. While there was no criteria for the applicant seeking interest free loan under bicycle advance.
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