» » » Rs 1 billion interest-free loan given to 18,000 students: Tevta

"Technical Education and Vocational Training Authority (TEVTA) has provided interest-free loans worth Rs 1 billion to 18,000 students across the province." Chairman TEVTA Irfan Qaiser Sheikh said this while chairing a meeting at TEVTA Secretariat, here on Wednesday.

He also said that at the end of the first year of his
tenure as Chairman TEVTA, a surplus amount of Rs 500 million was available. To utilize this amount for the students, TEVTA decided to provide interest-free loans to its passing out students and an agreement was signed with Akhuwat Foundation in this regard, he added.

Irfan also said that reason for provision of these loans was to enhance entrepreneurship culture among the youth of Punjab where they can start their own business instead of looking forward for jobs as space for less experience job holders has shrunk in recent years.

"Therefore we need to make our youth more empowered so if they are unable to get jobs, they could easily start their own business in their respective fields," he said.

He also observed that this model of empowering youth is quite common and very successful in developed countries. Nations who realize the importance of youth and how to properly utilize them are now ruling the world, fortunately, we now have realize this fact and are investing on our youth, he said adding, the result of this investment will bring more strengthen and stable economy of the country.

Since agreement, these loans have been provided to students of 17 districts across the largest province of country, Irfan mentioned. These districts included Lahore, Rawalpindi, Multan, Faisalabad, Sahiwal, DG Khan, Gujranwala, Jehlam, Jhang, Kasur and many others. He went on saying that among students, priority was given to the students belonging to Southern Punjab and smaller districts. Talking about loans to smaller districts he noted that students of small district of Jahania were awarded loans of Rs 97 million whereas Rs 93 million to the students of Sahiwal, Rs 73 million to students of Dera Ghazi Khan and Rs 65 million to the students of Jhang.

via Business Recorder - Feb 08, 2018

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