ISLAMABAD: Prime Minister Nawaz Sharif has reduced mark-up rate on loans under Youth Programme from 8 per cent to 6 per cent with effect from July this year.
He announced this, while chairing a meeting on Prime Minister Youth Programme. The PM said the 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.
