Technical Education and Vocational Training Authority (TEVTA) has distributed Rs 400 million interest-free loan to 6,710 TEVTA pass outs. This scheme has been initiated to provide loan to its pass-outs across the province of the Punjab through Akhuwat. This was stated by TEVTA chairperson Irfan Qaiser Sheikh while addressing a meeting on Monday to review the progress of loan scheme.
The said scheme has been started on the directions of Chief Minister Punjab to help the poor TEVTA pass-outs to enable them to establish their own business or expand their existing business.
Irfan Qaiser Sheikh said that 8,500 TEVTA pass-outs applied to get financial assistance upto November, 2016. The cases of more than 1,000 pass-outs are in process while 500 cases are ready for disbursement after observing the laid down criteria.
Chairperson TEVTA further said that loan amount ranges from Rs 10,000 to 100,000 are being given to each candidate. The main focus of TEVTA is to provide financial help to those pass outs who intend to start their own business.
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