Punjab government evolves revolutionary project of self-employment: Chief Minister

Punjab Chief Minister Shahbaz Sharif has said that Punjab government has evolved a revolutionary project of self-employment under which loans worth Rs one billion will be given to the youth to help them stand on their own feet. He said that skilled youth will be given preference under the scheme and the upper limit of loans will be Rs 50,000. He said that self-employment scheme will result in generation of job opportunities as well as promotion of economic activities.
The Chief Minister also issued instructions for setting up a committee, which will devise a strategy within a few days in the light of which the scheme will be started in 36 districts of the province. He was presiding over a meeting for the provision of loans to the youth under self-employment scheme, here on Wednesday. Member National Assembly Khawaja Saad Rafiq, Chief Secretary, Chairman Planning and Development, Secretaries of Finance, Law and Social Welfare, Chairmen TEVTA and Punjab Vocational Training Council, Executive Director Akhuwat and experts were present.
The Chief Minister said that Punjab government is implementing a comprehensive policy for the generation of job opportunities in the province which include projects like yellow cab scheme, distribution of 100,000 laptops among talented students and self-employment scheme for the youth.
He said that majority of population comprises youth and provision of loans to them under self-employment scheme will help them stand on their own feet as well as eliminate unemployment. He said that loans of one billion rupees will be offered during the first year while this amount will gradually be increased each year. He said that self-employment scheme will prove to be a milestone in the elimination of unemployment and provision of job opportunities to the youth.
He said that self-employment scheme for the welfare of the youth will be continued forever and setting up of a permanent institution for the project should also be considered. He issued instructions for selecting an audit-company of international repute for self-employment scheme and said that Punjab Small Industries Corporation will distribute these loans through Akhuwat. He said that Akhuwat has a wide experience of public service and provision of loans and will execute this welfare project in a transparent manner.
He said that loans will be given to the youth under self-employment scheme in all districts of the province and special committees comprising experts and persons enjoying good repute will also be formed at the district level for monitoring the loans. He said that such youth should be given preference in the provision of loans as are experienced in various skills and trades so that they could set up such businesses as could not only leave a positive impact on economy but also generate further employment opportunities.
He directed that the guiding policy for the provision of loans and other matters should soon be given a final shape so that the scheme could be started at the earliest. He said that Akhuwat should further enhance its capacity and submit a plan within seven days for the distribution of loans under self-employment scheme.
Earlier, Managing Director Punjab Small Industries Corporation gave a detailed briefing regarding self-employment scheme. He said that the steering committee for self-employment scheme, Punjab Small Industries Corporation and Akhuwat have finalised the strategy for self-employment scheme. Executive Director Akhuwat Dr Amjad Saqib said that 55 branches of Akhuwat are operational and it is fully capable to implement the scheme. He assured that this revolutionary project of Punjab government will be implemented in a transparent manner.