AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Muzaffarabad: The Azad Jammu and Kashmir government has commenced the distribution of interest-free loans aimed at supporting youth and women in establishing small businesses. This initiative is part of a broader effort to promote entrepreneurship and economic growth within the region.
According to Radio Pakistan, the program offers loans up to one hundred and fifty thousand rupees based on personal guarantees, allowing easier access for young and aspiring entrepreneurs. The recent ceremony held in Muzaffarabad saw the Secretary of Industries and Commerce distributing cheques totaling five million rupees to 52 low-income individuals, both men and women, to aid in their business ventures.
The program is currently in its second phase, during which it plans to disburse interest-free loans worth six billion rupees over the next five years. Already, loans amounting to two billion rupees have been allocated to 35,000 men and women, demonstrating the government’s commitment to fostering an environment conducive to business development and self-employment in the region.