ISLAMABAD:The loan scheme for youth introduced by former Prime Minister (PM) Nawaz Sharif who was disqualified by the court on corruption charges has flopped.
The loan has been provided to only 17861 youths out of 100 million youngsters.
According to State Bank report, National Bank of Pakistan (NBP) provided loans to only 17051 youths and they have made a claim of making recovery to the extent of 94 percent.
As many as 234 applications were received in UBL and loan amounting to Rs 57 million was extended against these applications.
Allied Bank provided loans of Rs 5.6 million to 6 youths. Askari bank extended loan amounting to Rs 6 million to 6 youths.
6200 applications were received in Albarka bank but loans amounting to Rs 36 million were provided to youths.
Habib Metro Bank and Suneri bank have not provided a loan to anyone.
Bank Alfalah received 2400 applications but no loan was provided to anyone. Bank Al-Habib provided only Rs 37 million loans. Dubai Islamic bank extended the loan of Rs 3.7 million. Faisal Bank has provided a loan, not to a single youth. First Women Bank provided loans amounting to Rs 238 million which was the highest figure among all banks.
Habib Bank provided loans of Rs 238 million, JS Bank Rs 1.5 million, Meezan Bank Rs 156 million, Sindh Bank Rs 43 million and SUMMIT Bank Rs 200 million.
These commercial banks have extended loan amounting to Rs 812 million to 810 youths which bears testimony that scheme has fizzled out.
