Govt committed to providing youth with easy access to capital: Usman Dar

Usman Dar said Rs 1.3 billion had already been released to 300 SMEs under this programme

FAISALABAD (Dunya News) – The government is committed to providing people in the age group of 21 to 45 years with an easy access to much-needed capital so that they could exploit their entrepreneurial skills to strengthen national economy.

This was stated by Special Assistant to Prime Minister on Youth Affairs and Chairman PM’s Youth Programme Usman Dar on Monday.

Addressing a cheque-distribution ceremony under Kamyab Jawan Programme (KJP) at Faisalabad Chamber of Commerce & Industry, he said that the government had allocated Rs 100 billion for the first phase of the programme.

He appreciated the skills of Pakistani youth and said that successive governments failed to exploit their God-gifted capabilities and thus they became burden on the economy instead of gearing up the pace of progress and prosperity.

The micro, cottage and SME sectors faced continuous crises as the successive governments did not concentrate on these segments, he said, adding that the PM is fully aware of the importance of textile sector and is considering to set up full-fledged textile ministry to focus on the SME sector.

Regarding Kamyab Jawan Programme, he said that the SME sector was badly ignored in the past despite its 80% share in exports and 25-30% share in the GDP. In spite of its excellent performance, only 6% of total released loans went to the SME sector, he added.

He said that the KJP would also generate one million jobs for the youth. The government is also working on “Ease of doing business” and “Cost of doing business”. He said that taxes would also be curtailed within next few months, enabling our exporters to compete their international competitors.

Regarding high rates of electricity and gas, he said that it is due to ill-conceived policies of previous governments that the incumbent government had to increase the tariffs. However, on the direction of Prime Minister, the refund claims of last many years were being cleared on top priority basis, he added.

Regarding popularity of KJP in Faisalabad division, he said that 21,000 youth had uploaded demand of Rs 27 billion. The scrutiny of the applications would be started soon as all 21 banks were involved in it.

He further said that loans worth Rs 1.3 billion had already been released to 300 SMEs under this programme, while loans of Rs 5 billion had also been sanctioned for 6000-7000 small units. These units will get loans within couple of months. Under this programme, 100,000 to 150,000 youth will also get jobs within 1-1.5 years, he added.

He claimed that all these loans would be disbursed purely on merit, without any political consideration. Faisalabad:Speaking on the occasion, Federal Parliamentary Secretary for Railways Mian Farrukh Habib said the PTI government was making strenuous efforts to resolve the business related problems of Faisalabad.

He said the government had ensured subsidized gas and electricity to the export sector which not only geared up the industrial process but also played a pivotal role in enhancing exports. After corona pandemic, local industries were working with full capacity while many of them have advance orders, he added.

Regarding weaving sector, he said that it was switched over from export to domestic production but after improvement in international trade it again started producing export products. He said the government was fully supporting the youth so that they could play their productive role in the overall development of the national economy.

In his welcome address, FCCI President Rana Sikandar Azam Khan said the FCCI was safeguarding the interests of 15 million people of this region. He claimed that almost all major issues and problems of business community had been resolved while the current executive body had also purchased five acres of land in M-III Industrial City for the construction of state-of-the-art FCCI complex.

He said that Faisalabad was a hub of power-looms which could not bear electricity at the rate of 13 cent and the issue should also be brought into the notice of Prime Minister to resolve the issue without any further delay.

He appreciated the Kamyab Jawan Programme (KJP) and demanded that its application forms should be made simple and easy. Similarly, the limit of loan without security should be enhanced from Rs1 million to Rs 5 million, he added.

Later, Rana Sikandar Azam Khan along with SVP Saqib Majeed and VP Abdul Waheed Sheikh presented FCCI shield to Usman Dar. Earlier, Usman Dar planted a sapling of Araucaria in the lawn of FCCI. He also distributed cheques under KJP and inaugurated a help desk of KJP in the FCCI.