PESHAWAR: Skilled Youth and fresh graduate student has suggested the Khyber Pakhtunkhwa Chief Minister Sohail Afrid to ensure interest free loans with simple process to address growing ratio of unemployment in the province.
Ahmed Shah, a student of Peshawar University, says it has become difficult for the youth to borrow from traditional banks. Interest increases the burden of loan repayment and small business start-ups fail.
According to him, if the government gives interest-free loans, every other youth can start his own business. Saad Ali, who belongs to Mardan, said that he has been looking for a job for three years after graduation. He said that the skill is there, but they are not able to open their small workshop due to lack of capital. “If one takes an interest-bearing loan, you should already successfully eliminate the burden of installments.”
Fatima Bibi, a housewife from Kohat, says there is a lot of scope for women to do online business from home. But no money for cloth making machine and other equipment. According to him, if interest-free loans are available, women can also become economically independent.
Kashif Khan of Swat says that every young man in the tourist city wants to work as a hotel, transport or guide. But lack of capital is the biggest obstacle. “If the government gives an interest-free loan of up to Rs 5 lakh, 10 youths can start their own business by buying a van together,” he said.
The youth demanded the government to Keep easy conditions for interest-free loans. The application process should be simple and quick. Priority should be given to the youth of the areas. Business training should be provided along with the loan.
Economists say interest-free microfinance has proven successful for young people around the world. If the KP government adopts this model, small businesses will grow and employment opportunities will be created. The youth say that jobs are limited, but business opportunities are unlimited. All that is needed is capital and facility.
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