Budget 2016-17 Business

50,000 interns to get jobs under PM youth programme during 2015-16

Latest Update: June 3, 2016 | 162 Views

ISLAMABAD: The government is placing 50,000 interns in different public and private organizations paying the stipend of Rs.12000 per month for a period of one year during the year 2015-16 under Prime Minister’s Youth Training Programme.

According to Pakistan Economic Survey 2015-16 released here Thursday, the government has approved around 16000 loans and disbursed worth Rs.7102.49 million so far under Prime Minister’s Youth Business Loans Scheme.

The mark-up rate for borrower is being lowered from eight to six percent a reduction of two percent while National Bank of Pakistan and First Women Bank Limited, seven other private banks have also joined this Programme which are big achievements.

Under the Prime Minister’s Youth Skills Development Programme, a total number of 24,831 trainees were equipped with hands-on skills in 100 trades during the year 2014-15 in the first phase.

While 20,984 skilled individuals benefitted from the programme in Phase-II during August 2015 to February 2016.

This skilled labour force is now contributing in the local and international markets for socio-economic growth of the country.

Under Prime Minister’s Interest Free Loan Scheme, an amount of Rs.3147.3 million has been disbursed among 1,49,763 households till March 2106.

Under this scheme, interest free loans of Rs.50,000 average size are being made available to both men and women from households with a score of up-to 40 on the Poverty Score Card (PSC) and with little or no access to banks or micro credit institutions.

While under the Prime Minister’s Fee Reimbursement Scheme for Students of Less Developed Area, a sum of Rs. 5.0 billion has been released since its inception in 2012.

Higher Education Commission (HEC) has successfully paid around Rs 3.90 billion to 134,926 deserving students from less developed areas.

The government pays tuition fee for all students registered in Masters and Ph.D programs in HEC-approved public sector educational institutions who have domicile of less developed areas.

Under the Prime Minister’s Scheme for Provision of Laptops to Talented Students, HEC has distributed 100,000 laptops during Phase-I and 50,000 laptops will be distributed during Phase-II.

These six schemes were initiated under the Youth Development Programme by the government to make the youth self sufficient.



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