Thursday, November 30, 2023

PM Shehbaz Sharif Announces to Give Loans upto Rs. 75 Lac with Interest Rate 7%

Elaborating on the loan scheme, the PM said that it would enable youth to take loans of up to Rs 7.5 million at a subsidised interest rate for a tenure of up to eight years.

“Borrowing up to Rs 500,000 will be free of interest, and it can be paid back in three years,” he said. “People who take loans of Rs500,000 to Rs1.5 million will be charged 5% interest, and they can pay it back in 7 years.”

Additionally, he said that those who borrow between Rs. 1.5 million and Rs. 7.5 million over an 8-year period will pay 7% interest.   

The prime minister spoke about the beginning of a loan programme in Islamabad and reaffirmed the government’s desire to finish the review.

“We have given the IMF a clear message that we want to complete the ninth review. We are ready and want to sit down regarding your conditions so that it can be concluded and Pakistan can move forward.”

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