Daily Times

LAHORE: Technical Education and Vocational Training Authority (TEVTA) Chairman Irfan Qaiser Sheikh has vowed to provide interest-free loans to 100,000 students annually to reduce rising unemployment in the country.

Addressing a meeting at the TEVTA Secretariat on Monday, the chairman said that the amount allocated for the purpose in the budget would be increased up to Rs 1,000 million from the next year.

The chairman said that the authority had allocated Rs 500 million for provision of interest-free loans to its students, enabling them to set up their business after getting training from TEVTA. Since its inception, he said that the authority had provided loans worth 821 million to its students

He added that the reason behind provision of this amount was to enable graduating students to start their own business. “The best way to control or countering unemployment is to empower youth,” he added.

He explained that a student having electrical diploma could simply set up a small shop for repairing of home appliances as well as installation of electrical items for domestic as well as commercial customers.

“When I assumed charge of the office three years ago, I decided to invest in human resource development instead of infrastructural development and we have provided loans to around 15,000 students in the previous year,” he said.

He said that that authority was is providing loans to all shining female students registered in all courses across Punjab. “Everyone talks about women empowerment but it could only happen with practical steps rather than giving statements,” the chairman observed.

He added that Japan and Turkey had provided such loans to its students thus enabling them to establish their own set up. “Everyone can witness where these both countries stand globally,” he added. He added that in Canada, a skilled person was getting salary seven times greater than a simple graduate.

After getting interest-free loans students can play their part in the strengthening of the national economy. He said that merit would be ensured while providing loans to students.

Published in Daily Times, October 24^th 2017.