This was stated by Provincial Chief, Smeda, Khyber Pakhtunkhwa, Javed Iqbal Khattak while talking to APP on Tuesday. He termed the initiating of the scheme an important step towards sustainable entrepreneurship development and a positive step for promotion of business activities and provision of employment opportunities in the province.

He said that the authority will not only provide training to the bank officials, but, will also impart business management skills who are taking benefits of the scheme. The training, he said will go long way in minimizing drop outs in businesses and sustainable entrepreneurships development in Khyber Pakhtunkhwa.

The launching of Pakhtunkhwa Hunermand Rozgar Scheme is a special initiative and pro-poor welfare scheme announced in the annual budget for financial year 2011-12.

The scheme is aimed at provision of employment opportunities to skilled youth, reduction of poverty and promotion of income generating economic activities in the province.

The scheme will be executed through the Bank of Khyber with coordination of the Smeda and Directorate of Technical Education. A amount of Rs.1300 million has been allocated for the purpose in the budget.

Under the scheme loan in the range of 50 to 300 thousands rupees will be granted to diploma/certificate holders from vocational or skill development centres at very soft term of 5 percent mark-up only.

The loan facility will be available for business activity in the fields of marble, gem stones, minerals, handicrafts, automobiles repairing, plumbing, electrician, furniture, light engineering, garments, embroidery, hair dressing and beauty saloons, leave, products, information technology and all such subjects leading to economic stabilization. Around 30 percent of the fund has been reserved for women.

Copyright APP (Associated Press of Pakistan), 2011