ISLAMABAD: The Prime Minister’s Youth Business Loan scheme has badly failed to achieve the set target of disbursing of loan as it disburse more than Rs17 billion loan among seventeen thousand people and that figure was far-behind the set target.   

Under the scheme government had set target to disburse loan among 0.19 million people in four years but only seventeen thousand people had got loan under this scheme.  However, the National Bank of Pakistan (NBP) was presently facing deficit of Rs. 1 billion.

While overlooking the NBP’s rules and regulations the high-ups blue-eyed persons like Mudasar Khan, Zubair Mirza had been appointed as head of this scheme.

Transparency International had also raised objections on the appointments of these persons and also written a letter to Federal Minister for Finance in this regard.

According to the information got by “Online” the government had set target to disburse Rs. 100 billion loan in four years time period as it disburse Rs. 17 billion loan so far among seventeen thousand people and that figure was far-behind the set target
The PML-N government had started the scheme in 2013 and it had to disburse Rs. 100 billion among the 0.19 million youth in four years, however it failed to achieve the set target. So far it had disbursed Rs. 17 billion to only seventeen thousand people for the business purpose. The Nation Bank of Pakistan (NBP) along with other private banks had disbursed this amount.

According to the details, in 2014 as many as 5100 people and in the year 2015 only 1300 had given loans for the business purpose. Ten thousand people had given loan in 2016 under this scheme. It was mentioned in documents that country’s National Bank had disbursed high loan among youth as compare to the other private banks.

The NBP had disbursed loan of Rs. 17 billion among than seventeen thousand youth till March 9, 2017.  Allied Bank of Pakistan had only disbursed 56 lekh rupees. As compare to NBP banks like Askari, Bank Al-Habib, First Women Bank, JS Bank, Mazain, Sindh Bank and other had disbursed small loan amount.    It stated that private banks performance hadn’t up to make in this regard as it disbursed only Rs. 170 million to 709 people for the business purpose. The credible sources had claimed that the persons Mudasar Khan, Zubair Mirza were looking after this sachem as they had badly violated all rules and regulations.

When Online’s reporter emailed a big officer of National Bank of Pakistan to know his stance about the failure of the scheme , but no respond came from their side in this connection.