The Punjab Cabinet on Thursday gave formal approval to Yellow Cab Scheme. Under the scheme around 20,000 vehicles will be distributed among the people. The Punjab Cabinet met under the chairmanship of Punjab Chief Minister, Shahbaz Sharif. It also granted approval to the draft bill for amendment in Section 17(4) of Government Servants Housing Foundation Act 2004.
The meeting was told that 40 percent quota has been allocated for south Punjab. Like other projects of Punjab government, the scheme will also be transparent. Computerised balloting for the distribution of vehicles will be held at divisional level in the presence of electronic media.
Addressing the meeting, the chief minister said the Punjab government has launched a comprehensive programme for the elimination of poverty and unemployment from the province and solid measures have been taken in the new budget for generating maximum job opportunities for educated youth. "The Yellow Cab Scheme is a revolutionary step of the government, which will not only help reduce unemployment but will also promote local industry as well as provide better transport facilities to the masses," he added.
The said that under the scheme, 2500 vehicles would be distributed among the winners of the draw every month and the process of distribution of 20,000 vehicles would be completed within eight months. People with intermediate or equivalent academic qualification would be eligible to apply for the scheme. The application forms are available from all branches of Bank of Punjab as well as the website of Transport Department and Punjab Bank.
The successful applicants would have to make 20 percent down payment at the time of delivery and the remaining amount on easy monthly instalments. Loan facility at extremely low mark-up would also be offered from Bank of Punjab. He said the Yellow Cab Scheme would also be completed in a transparent manner. He said committees, which would also include Akhuwat representatives and students, would be formed for the scrutiny of the particulars of successful applicants, and patwaris and tehsildars would have no concern with the verification process.
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