The students of public and private sector technical institutes will soon be able to get funds for starting their own businesses under a soft loan scheme by the Punjab government.
Minister for Industries, Commerce and Investment, Mian Muhammad Aslam Iqbal revealed this during a regular Q&A session in Punjab Assembly, adding that Rs 6.3 billion will be allocated for the project. Skilled students will get loans ranging between Rs 0.1-3 million for their businesses.
For men, 80% of the capital will be provided by the government whereas it will be 90% for women and the remaining will be covered by the debtors themselves. The operational charges will be 7% for men and 6% for women.
In response to another question, the provincial minister told that under the ‘Hunarmand Program’, Chinese language will be taught to over 13,000 students free of cost.
He further told that the government has already started collecting data of the students from technical institutes regarding their job placement, saying that the previous government did not collect this data to facilitate the unemployed technical workforce.