TEVTA to double interest-free loans for graduates

Lahore: The chairman of Technical Education and Vocational Training Authority (TEVTA) Irfan Qaiser Sheikh has said that the authority would increase the interest-free loans for the graduating aspirants. For this purpose, the available money has been increase from Rs 0.5 billion to Rs 1 billion.

While addressing a meeting attended by the officials of TEVTA at secretariat, Irfan Qaiser said a massive amount of Rs 2 billion was being spent on set-up, which he afterward cut to spend on human development.

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He furthermore added that according to the vision of Chief Minister of Punjab Mian Muhammad Shahabaz Sharif TEVTA decided to double the amount of interest free loans to the graduates.

“The priority of the government of Punjab is to make the youth skilled as well as provide them affordable opportunities to earn along with the help of interest free loans,” he added.

He also said that TEVTA was playing its part to the best if its abilities.

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“Up till now, TEVTA, in association along with the Akhuwat Foundation, has provided interest-free loans to over7, 000 aspirants,” said TEVTA Chairperson.

Stressing on the need of these loans, he also added that Japan and Turkey had provided similar advantages to its aspirants.

“Everyone can witness see where these states stand as a whole,” he added.

“A skilled man in Canada is getting an income 7 times that of a simple graduate.”

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Furthermore, Irfan explained that these loans will assist the aspirants play their part in not just strengthening the economy of the state, however, also tackle the expenditures of their families.

He added that all the loans will be given on merit.