Technical and vocational education is the key to prosperity for the nations. China is the perfect example where the government emphasized on technical training of the youth and the results are as clear as day. Sensing that, Punjab government has decided to introduce a loan scheme for technical graduates in the province.
For boosting national trade and investment in the industries, the government is going to provide loans to youth from Rs. 100,000 to Rs. 3,000,000. The announcement was made by Punjab Industry and Trade Minister Mian Aslam Iqbal in a seminar held by a Saudi company SABIC.
The minister also told that the leadership is fully committed to facilitating the investors by offering them easy one window operations and tax rebates.
Speaking about new industrial policy, the minister said: “Ten-years income tax holiday will be provided to the industrialists while there will be no duty fee on the import of state of the art machinery.”
Earlier KP government also vowed to devise a strategy to provide loans for the startups while the federal government is also supporting technical education in the country to create a workforce for their mega project i.e. Naya Pakistan Housing Project. The housing project will not only provide affordable homes but will also help support almost 40 industries in the country.
Although the minister highlighted that the syllabus and curriculum of technical education has been modified, no such reforms are seen in this regard.
If you are a graduate from any technical institute and want to be benefited by this loan scheme, you will have to wait as no details have been provided by the government yet. As soon as more information surfaces we will update you, so stay tuned!