Over 17,000 loan applications approved under PMYBL scheme till March 2016

-File photo —File Photo

ISLAMABAD: Over seventeen thousand loan applications were approved under Prime Minister Youth Business Loan (PMYBL) Scheme till March last year.

This has been stated in a progress report of the scheme, presented to Prime Minister Nawaz Sharif.

Initiated in 2013, the scheme helped to assist educated young people to establish or expand their business enterprises.

Moreover, the report shows that 17.7 billion rupees were disbursed under the loan scheme and the loan recovery was an impressive ninety four percent.—Radio Pakistan