PM approves Rs3.5 billion loan scheme

ISLAMABAD: Prime Minister Nawaz Sharif approving an interest free Rs3.5 billion loan scheme stated that loans were necessary to change the social life of the poor.

Prime Minister Sharif chaired a high-level meeting here on Tuesday and received a detailed briefing on the micro-finance scheme.

During the meeting, officials from the Finance Ministry informed that interest free loans of Rs50,000 will be provided for economic activities. The interest free loans will be provided under the NFC award formula.

One million people will benefit under the scheme which will start from the third week of June.