Chairperson Technical Education and Vocational Training Authority (TEVTA) Irfan Qaiser Sheikh has said that TEVTA will increase the interest-free loan for its pass out students from Rs 500 million to Rs 1000 million. While addressing a meeting of TEVTA officials on Monday at TEVTA Secretariat, Irfan Qaiser further said that there was a huge amount of Rs 2000 million was being spent on infrastructure which was cut off by him and now the same amount is being spent on human development.
TEVTA has decided to double the amount of interest free loans to TEVTA graduates as per the vision of Chief Minister Punjab Shahbaz Sharif, Irfan said. Chairperson further elaborated that making youth of Punjab skilled and providing them a reasonable opportunity to earn money through interest free loans is the priority of Punjab Government.
TEVTA is playing its part in this regard at its best, he said. Till now, TEVTA in collaboration with Akhuwat Foundation has started to provide interest free loans to more than 7000 students. Emphasising the upon the need of the interest free loans, he added that Japan and Turkey had provided such loans to its students for helping them in establishing their own set up. "Everyone can witness where these both countries stand globally," he added. He added that in Canada, a skilled person is getting salary of seven times greater than a simple graduate.
Irfan further explained that by getting these loans, students will play their part in the strengthening the economy of the country besides they will also able to bear expenses of their families. He said that all loans will be provided on merit as those students, who are top position holders in their trades, apply for the loan and they are selected for loans.