PTI Punjab president Ejaz Chaudhary said Prime Minister Youth Loan Scheme turned out be a big failure in one year. He said since the prime minister launched his flagship mega corruption scheme not a single individual has been able to get loan.
He said it was a flawed loan scheme from the outset. No proper consultation has been done with experienced consultants and the banks were forcefully asked to give loans to youth but over the time banks have shown their reluctance to grant any loan, as they know their money will never be returned.
Secretary General Yasmin Rashid said that does Pakistan really have 100,000 entrepreneurs who are ready to turn capital into profits. Or will the nation end up with billions in loans extended to those who couldn???t even write or conceive a business plan.
She said Pakistan has many professionals with the expertise to roll out such schemes to meet their objectives but Sharif family???s intentions are wrong as they want to give loans to their own people and banks fear that these loans will not be returned.
Information Secretary Andleeb Abbas said Youth Loan Scheme was just a scam-it was launched to deal with PTI???s rising popularity in Punjab. Factories are closing down, businessmen are relocating, and energy crisis is getting worse day by day.
She said shouldn't government help these businessmen to keep their factories operational and deal with energy crisis so the people who already are working can make their ends meet.
She said PMLN government couldn???t protect the businesses, which already exist and giving loan to create more business. How will these new businesses survive without energy, and repay their loans.