Musharraf launches 'Rozgar Pakistan' scheme to target unemployed Youth
By Aziz Malik 'Pakistan Times Federal Bureau Chief

ISLAMABAD: President General Pervez Musharraf Tuesday vowed to reach out to poorest of the poor, especially unemployed youth and women in the less-developed areas, to help them earn sustainable income while launching the 'Rozgar Pakistan' scheme across the country.

"This scheme will target poorest of the poor and provide employment opportunities to the unemployed youth," he told reporters about the scheme that aims to target about 2.5 million unemployed individuals in three to five years through simplified financing by the National Bank of Pakistan (NBP).

Prime Minister Shaukat Aziz was also present and along with the President went around various stalls at the exhibition arranged in connection with the launch of the scheme at Aiwan-e-Sadr.

President Musharraf said that the unemployed would be facilitated in obtaining easy loans with convenient repayment schedule.

"This is a very good and practical scheme and will immensely benefit the lower strata of the society, especially in the least developed parts of the country," he added.

He said the scheme, which envisages disbursement of Rs. 20 billion in three to five years, wouldbenefit millions of people with special focus on less privileged segments.

"I am asking the NBP and all concerned people that they must access the poorest of the poor especially women," he said.

The President underlined the importance of an effective and efficient implementation of the scheme to achieve desired objectives of reducing unemployment.

He was satisfied with the checks and balances that had been put in place to access the right people and ensure proper implementation of the scheme.

Objectives

Responding to a question, the President said such schemes have more application and significance for Balochistan province where educated youth must get job opportunities and contribute to socio-economic uplift of the province.

In addition to 'Rozgar Pakistan' scheme, the President said he has asked Prime Minister Aziz to introduce Graduate Internship scheme in Balochistan in government departments and even in the private sector. That would be an excellent programme and will benefit unemployed youth of Balochistan, he added.

The 'Rozgar Pakistan' scheme is a public-private venture of the government under which about 2.5 million unemployed individuals, especially at the grassroots level, will be targeted.

"Under the scheme, we will provide about Rs. 20 billion in three to five years with easy repayment schedule," President NBP Ali Raza told reporters.

The NBP has set a maximum limit of Rs. 200,000 for an individual to be repaid in upto five years time period.

The scheme covers fixed and mobile utility stores, transport (motorcycle rickshaws), public call office (PCO) and tele-centers.

Raza said forms would be available from Wednesday on 1200 designated branches all over the country with 130 working as 'hub branches' for the scheme.

After studying examples of such schemes in Bangladesh, Indonesia and Vietnam, Raza said the government has structured a better scheme and expressed the confidence that it will be successful.

The NBP President said it was President Musharraf's vision to reduce unemployment and address the problem on many fronts.

An individual between the age of 18-40 and having a qualification of metric would be eligible to get financing from the NBP. The government would share the interest rate with customer paying only 6 per cent mark up.

Raza said through various products covered by the scheme, the customer would be able to earn a minimum net income of Rs. 7,000 to Rs. 10,000 a month.

President and CEO PTCL, Abdullah Bamakhram said his organization was introducing pay phone for small investors through which an investment of Rs. 5,000 can have good returns.

The PTCL is offering its products and less rates for the Scheme.

Bamakhram described the "Rozgar Pakistan" scheme of the President as a "clear demonstration to encourage people to do business and encourage investors to invest".

He was confident that the scheme would have tremendous benefits to people, especially poor.

Brig (Retd.), Hafeez Ahmed, Managing Director of Utility Stores Corporation (USC), said his organization was launching two products for which financing could be obtained from the NBP.

First is the Mobile Utility Store on two or three-wheeler auto/motorcycle with 24,000 inventory through which an individual could earn up to Rs. 7,000 a month. Mobile utility stores would also help provide items on cheaper rates to people in rural areas.

The second USC product is fixed store for about 300,000 inventory that will enable an unemployed person earn upto Rs. 13,000 a month.

The USC MD was confident that the Scheme would benefit the unemployed youth, besides providing items at cheaper rates to people across the country.

Information Minister Muhammad Ali Durrani, Minister for Production and Special Initiative Jehangir Khan Tareen, Minister for Women Development and Youth Affairs, Ms. Sumaira Malik and other officials were also present at the launching of the Scheme.●