Pakistan is creating a new set of middle class in the province by giving an interest-free loan to the young people who passed the secondary school examination at least, and are currently unemployed.
Waseela-E-Haq Sindh, is a product of the collaboration of the Government of Sindh and Benazir Income Support Programme (BISP). The goal is to spread programs in the province by providing financial assistance to deserving jobless youths worth Rs. 30K per person to start a business.
The 12 billion rupees project of the Waseela-E-Haq Sindh was launched to give no-interest loans to every single deserving youth.The loan is given to applicants after verifications that they have no source of income. Anyone from 19 to 35 years old and minimum matriculation qualification is qualified.
Aside from the financial loan grant, the successful applicants would be provided support, advice and training. For applicants to be qualified, they should also be in the poverty score of 16 to 30, according to Farhatullah Babar, the president’s spokesperson.
Chief Minister of Sindh Qaim Ali Shah said that almost 35,000 educated jobless young people shall benefit from the scheme. The young ones are given the chance to start their own business.
The BISP has been helping Pakistani poor families by giving monthly income though it is a not-so-good scheme to improve the country. It is better to give business opportunities to the poor instead of giving the poor some monthly income; and that this scheme is so far the best.
The Waseela-E-Haq Sindh scheme was launched on January 27, 2012 in a formal announcement by President Asif Zardari.