Agreement signed with Akhuwat: Tevta to provide Rs 500 million loan to 8,000 graduates

The Technical and Vocational Training Authority will provide Rs 500 million interest-free loan to its 8,000 graduates through the Akhuwat during the current financial year. The authority signed an agreement with the Akhuwat on Monday at the former's secretariat.
The signing was done by Authority Chairperson Irfan Qaiser Sheikh and Akhuwat Executive Director Amjad Saqib in a ceremony which also pulled in Operating Officer Jawad Ahmed Qureshi, Akhuwat Chief Operating Officer Syed Rehan Hussain, Manager Projects Monitoring Aleem Emanuel and authority officers Abdul Qayyum, Azhar Iqbal Shad, Haroon Naseer, Muhammad Usman Ali, Ayesha Qazi, Bushra Akhter, Sher Ali, Sarfraz Ahmed, Amar Hasan, Maqsood Ahmed and Imran Afzal. In a speech during the ceremony, Chairperson Sheikh said, "The interest-free loan to graduates will be provided to expand the existing business in the Punjab. "Our pass-outs will be given the loan ranging from Rs 10,000 to 100,000. The main focus is to provide financial help to those who intend to start their own businesses. We're trying to make them respectable members of society."
Akhuwat Executive Director Saqib said in a speech, "The loan to the graduates will not only help them to start their own businesses but also eradicate poverty and bring prosperity. The complete documentation of the loans including name, age, CNIC number, address, type of business, amount of interest free loan, recent photograph will be furnished by the graduates to get the loan from the Akhuwat and the loan will be disbursed preferably through a bank account. The repayment period from borrowers will be up to 30 months."