NBP refuses to invest Rs100 bn in PM’s Youth Loan Scheme

[Leader]

NBP refuses to invest Rs100 bn in PM’s Youth Loan Scheme


The National Bank of Pakistan (NBP) has informed the State Bank of Pakistan (SBP) that it cannot invest Rs100 billion in the Prime Minister’s Youth Business Loan Scheme as it involved great risk.



The NBP said that the step of lending money, if realised, would affect other departments of the bank. Therefore, it had agreed on investing Rs15 billion only inthe PM’s Youth Loan Scheme.



After NBP’s excuse, the government has decided to involve private banks for lending the loans. There is a possibility that the private banks will be made to lend Rs70 billion for the venture. The process of negotiating with different banks has also been started.



It merits mentioning here that the NBP has been assigned the responsibility of releasing Rs90 billion till June 30, 2014, whereas the First Women Bank would lend Rs10 billion for the loan project. However, by including private banks in the scheme, the number of banks are likely to remain at seven.

NBP refuses to invest Rs100 bn in PM’s Youth Loan Scheme - thenews.com.pk

the bank trying to save its arse from a deadly scheme... a 100% loss scheme, especially when maryam nawaz was trying to impose her decisions with Islamic banking on NBP as per claimed...

@Jazzbot @RescueRanger @Aeronaut

I am sure no bank will invest in this scheme, no private bank is fool enough to put their money at such a risky loan especially under pmln govt of nawaz who himself a loan defaulter !

 

[Jazzbot]

Now what? Chairman NBP is to be fired in couple of days?

 

[mr42O]

Watch from 31:45 to learn how PMLN thinks....

 

[Leader]

Now what? Chairman NBP is to be fired in couple of days?

 

[bc040400065]

Yaar In noon walon ku loan lene and daine k elawa bhi kuch ata ha kiya? I mean serious what their economic policy is after 7 months in government.??? No one knows whats happening ... And NBP's president post is already vacant and there were reports that there will be a political appointment at that post as well.

 

[Jazzbot]

Yaar In noon walon ku loan lene and daine k elawa bhi kuch ata ha kiya? I mean serious what their economic policy is after 7 months in government.??? No one knows whats happening ... And NBP's president post is already vacant and there were reports that there will be a political appointment at that post as well.

They are just sore losers, they want to make everyone in this country a beggar so people will always look towards these sharifs, bhuttos and zardaris to throw something towards them.

Freaking 10 billion Rs for this loan scheme, a semi govt sugar mill can easily be set up in mere 0.3 billion Rs and around 3000 - 4000 families can get employment from that sugar mill. But instead of starting new projects or creating new jobs, they are busy distributing laptops, yellow cabs and loans.