PM Youth Loan Scheme: Explained In Detail

[W.11]

i think everybody is speculating, lets just give this loan scheme like yellow taxi, sasti roti etc a chance and if it fails, then nooras can be roasted then

we all know nooras are few sanduks ready to cash in because they have got the power now

lets see if they fill their sanduks or do something really useful this time by using whatever peanut brain they are left with

 

[Jazzbot]

i think everybody is speculating, lets just give this loan scheme like yellow taxi, sasti roti etc a chance and if it fails, then nooras can be roasted then

we all know nooras are few sanduks ready to cash in because they have got the power now

lets see if they fill their sanduks or do something really useful this time by using whatever peanut brain they are left with

Their priorities are wrong from start as always. Instead of providing cheap flour, they prefer sasti roti schemes. Instead of bringing more kids to education, they prefer ghost schools and laptops etc. And instead of creating jobs, they prefer distributing loans. They will never learn.

 

[ssethii]

I don't know how this guy calculated the amount but this is how I think i would be calculated
Total Period =8 years
Grace period =1 Year (where no payment is to be made)
amount due at the beginning of 2nd year
2,000,000*1.08=2,160,000.
Now amortize this on the 7 years using 8 percent

Monthly Payment
Year ---------- beginning balance
1-------------------2,160,000.00
2--------------------1,920,136.95
3---------------------- 1,660,365.38
4-----------------------1,379,032.90
5------------------------1,074,349.96
6--------------------------744,378.49
7---------------------------387,019.55
8-------------------------------0.00
Monthly payment will be 33,666.22 PKR.
Annuity Payout Calculator

you cannot calculate the increase at once it stacks with every fiscal year or whatever the time duration is set.

It is a good scheme to bring forward the youth having entrepreneurship capabilities.
And also it will bring hope to the unemployed chunk of population.
If this money is distributed fairly among deserving people then this scheme will easily change the economic dynamics of Pakistan in our favor.

 

[Fracker]

Jhalnay wallay ka moo kalla..

This scheme was mentioned even PTI's manifesto yet going against this, clear showing who only want power but do something better for the people Pakistan. Losers will remain the losers, let them enjoy their ego

 

[Jazzbot]

Jhalnay wallay ka moo kalla..

This scheme was mentioned even PTI's manifesto yet going against this, clear showing who only want power but do something better for the people Pakistan. Losers will remain the losers, let them enjoy their ego

lol we also have a youth loan scheme in KPK I guess, no one is talking against this scheme or idea so keep your head straight. We are criticizing some aspects of this scheme and they way this scheme is being handled. What qualification Maryam Nawaz has that made her chair person of such a massive project? Care to explain?

 

[SBD-3]

@hasnain0099

Do you think that the cost of administration and processing would be zero? 50 Million is almost 30% of the total population of Pakistan........So statistically it would be unrealistic to assume that 50 Million forms will be issued. This might be in the complete phases of 5 years. Secondly the program size is 100 Billion over the entire tenure. Even if the loan size is equally devided over the tenure, the each year trench should be 20 billion.

 

[Jazzbot]

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https://www.facebook.com/video.php?v=553690791391584

Renowned Economist Shahid Hasan Siddiqui rips apart the Youth Loan Scheme fiasco
​

@hasnain0099 @cb4 @arushbhai @Leader

 

[Luftwaffe]

And yet the 4 million forms have been downloaded already .

Bhai, we know you are new recruit of posting rubbish all over PTI Threads for chand rupiya, that's fine with us everyone has to earn for rotti.

4 million forms means nothing I can connect to internet with dynamic IP click download form and disconnect without downloading the entire form it would be registered as 1 download, every time I connect and disconnect it would be counted additional, so it would be fake downloads. Or people might be downloading it to read it nothing more. By the way 99% of Pakistani internet connections are dynamic not static because it costs money.

Yet or not Banks have no money so the scheme will collapse. By the way no fool is going fall for a scheme to pay 3 lack 60 thousand rupees additional on 18 lacks interest full loan, you heard me right because 2 lacks straight goes to bank as rishwat and fees.

* Loan 20 lacks
* Interest 8% [that makes 1 lack 60 thousand rupees]
* 10% fee/rishwat to bank left 90% OR 18 lacks of loan
* Payback 18 lacks + 8% Interest + that 2 lacks that were given to bank for their illegal consumption.

 

[xyxmt]

A simple question.

why would someone (unknown / not a family member) will be willing to give you 4 cheques each equivalent to 25% of your loan..... why? what advantage is there for the guarantor?

In Pakistan we have strong family structure, if one's uncle is affluent and he believes his nephew is hard working and smart then he will have no problem putting up a guarantee. my nephew is interested in food business but lack funds to start and I am willing to give the guarantee, off course their is always a chance of his business failing but i know that and I believe in him

lol we also have a youth loan scheme in KPK I guess, no one is talking against this scheme or idea so keep your head straight. We are criticizing some aspects of this scheme and they way this scheme is being handled. What qualification Maryam Nawaz has that made her chair person of such a massive project? Care to explain?

we I think mariam nawaz has an MBA from LUMS, but thats not the point she will probably will be just overlooking the project...although I believe it should have been given to a rightfully qualified person but this is Sharif leagues and everything goes thru sharif no budmash needed

 

[PurpleButcher]

In Pakistan we have strong family structure, if one's uncle is affluent and he believes his nephew is hard working and smart then he will have no problem putting up a guarantee. my nephew is interested in food business but lack funds to start and I am willing to give the guarantee, off course their is always a chance of his business failing but i know that and I believe in him

2 points

1> I think it is mentioned in the scheme that no family relatives can be the guarantors .. please clarify if you know better...

2> If uncle believes his nephew has potential..why involve govt. why not assist him directly?

 

[SBD-3]

Bhai, we know you are new recruit of posting rubbish all over PTI Threads for chand rupiya, that's fine with us everyone has to earn for rotti.

Well meri jaan thats how the members are here from elite to think thanks stuffed with namonas. Probably who don't even mostly know the ABC of what they are talking about.....

Yet or not Banks have no money so the scheme will collapse. By the way no fool is going fall for a scheme to pay 3 lack 60 thousand rupees additional on 18 lacks interest full loan, you heard me right because 2 lacks straight goes to bank as rishwat and fees.

Well if you would have read my earlier posts, then I did say that I am not in favor for spending public's hard earned money in the banks for fulfilling the mostly stupid dreams of our youth. Those who are able, they find the way one way or another. I don't want my money to be spent upon the fancy dreams of any mr X Y Z who comes with a bunch of papers (the case of 98% of Pakistani youth). Our country is full with top dramas, had we had a serious and shining youth we would have already developed a culture of entrepreneurship.

* Loan 20 lacks
* Interest 8% [that makes 1 lack 60 thousand rupees]
* 10% fee/rishwat to bank left 90% OR 18 lacks of loan
* Payback 18 lacks + 8% Interest + that 2 lacks that were given to bank for their illegal consumption.

1- Loan is Upto 20 Lacs
2- The market rate for clean lending is 36-42% PA (Just call the helpline of any bank for clean finance/cash line) . Even the interbank lending rate for 3 years is 12.32% (a rate at which a bank lend to eachother, the loan is for 7 years).If you don't wana borrow from it, by all means, go to any bank and borrow as much as you want. But I am 150% that the credit officer will take your loan application, crunch it together and throw it in garbage can since bank will have to provide for 100% of the NPL created due to this fancy lending going default. Bank are not going to lend for free lunch, credit risk management is a bitch!
3- You can then easily calculate the interest to be paid on cash line finance and then probably post what were the results.

.

https://www.facebook.com/video.php?v=553690791391584

Renowned Economist Shahid Hasan Siddiqui rips apart the Youth Loan Scheme fiasco
​

@hasnain0099 @cb4 @arushbhai @Leader

Shahid Hassan Siddiqui, I remembered attending one of his guest lectures in ICAP auditorium Karachi (around 2008) where he was firing all guns on SBP failing to control inflation and not raising interest rates. I raised my hand and ask him,"sir as you know, central bank targets the core inflation, not the headline inflation, the oil is now 138$ a barrel, how can central bank control the energy effect due to international price of oil and you're just using headline measure in your presentation". He suddenly murmured," Well yes you're correct too that the core measure is a better indication, well I haven't seen that data and will see in future about it". Most of the "Mahir-e-Muashiyat" on media are self proclaimed. If you really wana listen to some economist, then listen to Dr.Salman Shah, Dr.Hafeez Pasha, Dr. Nadeem ul Haq, Dr.Shahid Burki,Dr.Asad Zaman. Rest are mostly economic jokers.

 

[SBD-3]

we I think mariam nawaz has an MBA from LUMS,

That is hina pervaiz butt.

 

[Jazzbot]

2 points

1> I think it is mentioned in the scheme that no family relatives can be the guarantors .. please clarify if you know better...

2> If uncle believes his nephew has potential..why involve govt. why not assist him directly?

1) No one with your blood relations can be a guarantor, only strangers can give guarantee. Which means, no uncle, brother, father or grand parent can be your guarantor.

2) Guarantor must show all his bank accounts in which he must have 150% of the loan amount. Which means if you are applying for 1 lac loan, your guarantor must have 1.5 lac in his bank accounts.

3) If you will be failed to return the tax, Govt will recover the amount from your Guarantor.

Now only a stranger is eligible to give guarantee and which stranger will give guarantee under above 3 conditions is some question.

 

[AZADPAKISTAN2009]

No bank with brain will finance this project ,you put a collateral of some kind , home + car + biwi in order to get a loan

No deal

Anywhere in world , a bank offers loans on "Strength of business proposal" or education credentials or Credit history (Good history of paying loan back)

Their scheme is give money (not their own but bank's money) and then by the time collection starts , they won't be in power and banks will bear the losses

Then nawaz will say privatize all Banks

 

[Jazzbot]

No bank with brain will finance this project ,you put a collateral of some kind , home + car + biwi in order to get a loan

No deal

Anywhere in world , a bank offers loans on "Strength of business proposal" or education credentials or Credit history (Good history of paying loan back)

Their scheme is give money (not their own but bank's money) and then by the time collection starts , they won't be in power and banks will bear the losses

Then nawaz will say privatize all Banks

And then the banks will end up in hands of either Mian Mansha or Malik Riaz..