ISLAMABAD:
Prime Minister Nawaz Sharif on Wednesday said that this was the time to
take practical steps to resolve the problems of the people and not to
stage sit-ins, adding how could those who could not manage the affairs
of one province, run the country.He said those who couldn’t get votes in
the 2013 elections should wait for the 2018 general elections instead
of hatching conspiracies.
Addressing the second computer balloting for the grant of loans under the Prime Minister’s Youth Business Loans at the Convention Centre here, the prime minister said that in the first phase 38,000 applications for loans were received under the PM Youth Business Loan Scheme including 31,000 men and 7,000 women. “Of them, 6,000 were selected for grant of loans through computer ballot in the first draw and 6,000 more are being selected through the second draw,” he added.He expressed the confidence that youth borrowing loans for businesses would prove to be a harbinger of a social and economic revolution in the country.
He said the government had launched a number of development projects and was completing them in record time. He said that $35 billion would be invested in the power, road and railway sectors during the next ten years.
He said 21,000MW of electricity would be added to the national grid in eight to 10 years.“I see great potential in the youth of Pakistan who can bring about an economic revolution and development in the country through their energy and dynamism”, he added. He said that the middle and lower-middle classes had contributed to the development of nations like Germany and Japan, and therefore, he had great expectations from the youth of these classes in Pakistan.
He further said that the Business Loan Scheme would enable thousands of Pakistani youths to gain financial independence and also prove to be a source of major economic activity. “The scheme is totally transparent and based on merit, and I’m emphasising the role of women in the development of Pakistan,” he added. He said that his government was providing equal opportunities to women in all sectors and therefore all the schemes of the Prime Minister’s Youth Program contained a 50 percent quota for females.
He directed the governor State Bank to engage other Pakistani private banks to participate in these schemes. “Previously, banks only entertained the affluent class as the poor were not even allowed to enter the banks. But our government provided opportunities to the marginalised population for gaining economic independence,” he maintained.
“The money accumulated in the treasury belongs to the people of Pakistan and they have every right to utilise it for their benefit. It is our obligation to provide services and initiate welfare projects”, he noted.
The premier also appreciated the efforts put in by Finance Minister Ishaq Dar for presenting a development-oriented and pro-poor budget for 2014-15. As he elaborated the salient features of the budget, he said that they expected to control inflation, and attract significant investment and launch development projects. He said that by the grace of the Almighty and the hard work of the team, the government had been able to achieve 16.4 percent revenues against a target of 21 percent which is almost a 90 percent success.
He informed that the livestock insurance scheme had been included in the budget for 2014-15 that would provide security to small-scale and poor farmers in protection of investment.The premier emphasised that the government’s top priority was to get rid of the power loadshedding and for this purpose, 21,000MW of power projects for the next eight to 10 years had been planned.
He stated that unfortunately, previous governments did not pay attention to the energy crisis and the machinery for the Nandipur power project was abandoned, rusting at the Karachi port while people were suffering long hours of loadshedding. “Our government, in a short period of only eight months reactivated and completed this project which shows our commitment to solve the energy crisis,” he remarked.
He further said that the multi-purpose mega project of Diamer–Bhasha Dam with a cost of $12 billion and with a capacity of 4,500MW was being undertaken which would not only generate electricity but also help in managing our water resources that were being wasted.
He also referred to the $35 billion Pak-China Economic Corridor that would change the fate of the country. He further said that work on the Karachi-Lahore Motorway would be initiated soon as Rs55 billion had been allocated for land acquisition to be completed in three months.
The prime minister said that they should not indulge in the politics of leg-pulling and unnecessary criticism. The people of Pakistan have shown their confidence in us in the last elections and it was they who would again decide in the 2018 elections based on our performance.
Later, he performed the 2nd computerised balloting of the Youth Business Loan Scheme in which 5,169 loans were awarded to the applicants whose applications were approved by the National Bank. It may be noted here that a 50 percent quota was reserved for women with a quota for martyrs and special persons.
He also distributed cheques to some of the successful candidates of the first balloting. He also directed the president of the National Bank to forward all the cheques by June 15, 2014.Speaking on the occasion, Minister for Finance Ishaq Dar said the present government was focusing on the welfare of the downtrodden sections of society and the launch of six youth-related schemes were part of that strategy of the PML-N government.
Addressing the second computer balloting for the grant of loans under the Prime Minister’s Youth Business Loans at the Convention Centre here, the prime minister said that in the first phase 38,000 applications for loans were received under the PM Youth Business Loan Scheme including 31,000 men and 7,000 women. “Of them, 6,000 were selected for grant of loans through computer ballot in the first draw and 6,000 more are being selected through the second draw,” he added.He expressed the confidence that youth borrowing loans for businesses would prove to be a harbinger of a social and economic revolution in the country.
He said the government had launched a number of development projects and was completing them in record time. He said that $35 billion would be invested in the power, road and railway sectors during the next ten years.
He said 21,000MW of electricity would be added to the national grid in eight to 10 years.“I see great potential in the youth of Pakistan who can bring about an economic revolution and development in the country through their energy and dynamism”, he added. He said that the middle and lower-middle classes had contributed to the development of nations like Germany and Japan, and therefore, he had great expectations from the youth of these classes in Pakistan.
He further said that the Business Loan Scheme would enable thousands of Pakistani youths to gain financial independence and also prove to be a source of major economic activity. “The scheme is totally transparent and based on merit, and I’m emphasising the role of women in the development of Pakistan,” he added. He said that his government was providing equal opportunities to women in all sectors and therefore all the schemes of the Prime Minister’s Youth Program contained a 50 percent quota for females.
He directed the governor State Bank to engage other Pakistani private banks to participate in these schemes. “Previously, banks only entertained the affluent class as the poor were not even allowed to enter the banks. But our government provided opportunities to the marginalised population for gaining economic independence,” he maintained.
“The money accumulated in the treasury belongs to the people of Pakistan and they have every right to utilise it for their benefit. It is our obligation to provide services and initiate welfare projects”, he noted.
The premier also appreciated the efforts put in by Finance Minister Ishaq Dar for presenting a development-oriented and pro-poor budget for 2014-15. As he elaborated the salient features of the budget, he said that they expected to control inflation, and attract significant investment and launch development projects. He said that by the grace of the Almighty and the hard work of the team, the government had been able to achieve 16.4 percent revenues against a target of 21 percent which is almost a 90 percent success.
He informed that the livestock insurance scheme had been included in the budget for 2014-15 that would provide security to small-scale and poor farmers in protection of investment.The premier emphasised that the government’s top priority was to get rid of the power loadshedding and for this purpose, 21,000MW of power projects for the next eight to 10 years had been planned.
He stated that unfortunately, previous governments did not pay attention to the energy crisis and the machinery for the Nandipur power project was abandoned, rusting at the Karachi port while people were suffering long hours of loadshedding. “Our government, in a short period of only eight months reactivated and completed this project which shows our commitment to solve the energy crisis,” he remarked.
He further said that the multi-purpose mega project of Diamer–Bhasha Dam with a cost of $12 billion and with a capacity of 4,500MW was being undertaken which would not only generate electricity but also help in managing our water resources that were being wasted.
He also referred to the $35 billion Pak-China Economic Corridor that would change the fate of the country. He further said that work on the Karachi-Lahore Motorway would be initiated soon as Rs55 billion had been allocated for land acquisition to be completed in three months.
The prime minister said that they should not indulge in the politics of leg-pulling and unnecessary criticism. The people of Pakistan have shown their confidence in us in the last elections and it was they who would again decide in the 2018 elections based on our performance.
Later, he performed the 2nd computerised balloting of the Youth Business Loan Scheme in which 5,169 loans were awarded to the applicants whose applications were approved by the National Bank. It may be noted here that a 50 percent quota was reserved for women with a quota for martyrs and special persons.
He also distributed cheques to some of the successful candidates of the first balloting. He also directed the president of the National Bank to forward all the cheques by June 15, 2014.Speaking on the occasion, Minister for Finance Ishaq Dar said the present government was focusing on the welfare of the downtrodden sections of society and the launch of six youth-related schemes were part of that strategy of the PML-N government.
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