ISLAMABAD - Prime Minister Nawaz Sharif on Thursday announced to reduce mark-up rate from eight per cent to six per cent on loans under Youth Programme from July this year.

Chairing a meeting on Prime Minister Youth Programme here, he said the reduction will be applicable on the loans already availed under the scheme.

He directed the President National Bank of Pakistan to immediately issue sanction letters to all those applicants who have completed all necessary formalities and are waiting for a ballot.

Sharif said since applications were received under the NFC award quota, there is no need for any balloting for the time being.

He expressed displeasure over slow pace of processing of cases sanctioned by NBP.

He directed the NPB President to ensure release of all funds to the applicants who have already been declared successful in early balloting.

Meanwhile, on Thursday, National Party President Senator Mir Hasil Khan Bizenjo called on Prime Minister Sharif here. “They discussed the overall political situation and matters of national importance,” an official statement said.