Recently Prime Minister Muhammad Nawaz Sharif inaugurated business loan scheme for youth with the ray of hope to open new avenues for unsettled, unemployed and jobless youth of our homeland. In his address to the youth, prime minister said: through business loan we want to empower our youth to contribute their positive and active role towards the progress and prosperity of the country. Prime Minister assured that step have been taken particularly for youth because they are the bright future of Pakistan.
But with this great opportunity, the shock came when it was learnt that business loan facility came with 8% markup which is unjustified, wrong and absolutely against the teaching of Islam. But soon, it was taken notice of and some amendments in the scheme were announced to make it more acceptable.
If the government is really interested for the welfare and betterment of youth as well as prosperity of the dear homeland, it should make the loan scheme totally interest free. Those who are getting loans need to be given succor and relief, instead of tying them with a heavy loan which – in order to be paid back — may ultimately drain a good part of their life.
ZAKIA AWAN,
Lahore, December 14.