Islamabad: Prime Minister Nawaz Sharif on Saturday announced six welfare schemes for Pakistan’s youth to provide employment opportunities‚ soft loans and scholarships and laptops for brilliant students.

In an address to the nation over radio and television, his second since assuming office in June, the prime minister said the government would initially allocate Rs20 billion (Dh696 million) for the schemes.

He said the programme marks the beginning of the fulfilment of promises his Pakistan Muslim League-N party had made in its manifesto and campaign before the May 11 general elections.

A micro interest-free loan scheme is being launched for disadvantaged sections of society and will benefit 250,000 people. An allocation of Rs3.5 billion has been made for this during the current financial year.

A small business loan scheme is designed for the unemployed‚ especially educated youth, to enable them to start their own businesses. Loans ranging from Rs500,000 to Rs2 million will be given to youth at a concessionary mark up rate of eight per cent with the government bearing the remainder.

Fifty per cent of such loans will be given to women and initially these loans will be advanced by National Bank of Pakistan and First Women Bank. Rs5 billion have been allocated for the scheme.

The prime minister said under a youth training scheme, those completing a 16-year degree education from recognised institutions will be given practical training to help them secure jobs at home or abroad.

For this on the job training a Rs10,000 per month scholarship will be given for one year and 50,000 graduates would benefit from the scheme. Rs4 billion have been earmarked for this scheme.

A skill development scheme is being launched for boys and girls who have passed 8th grade. They will be given six months training in different trades along with a scholarship of Rs5,000 a month. The government has earmarked Rs800m for the scheme.

Sharif also announced a scheme for sponsoring tuition fees of students belonging to backward areas so that brilliant students are not deprived of their right to education due to financial constraints.

The government will pay, at an average, Rs40,000 of annual fees on behalf of each of the 30,000 students for their MA‚ M.Sc and higher level education. This scheme is being launched at a cost of Rs1.2 billion.

Rs4 billion has been earmarked for the prime minister’s scheme for the provision of laptops. Under the scheme, 100,000 students will be provided with laptops by the Federal Government this year.

The prime minister said the federal cabinet has already approved the basic structure of these schemes and arrangements have also been completed for their implementation. He however invited suggestions from people to make these schemes more transparent and 100 per cent merit based.

Details of the schemes will be available on the website www.pmo.gov.pk from Monday and people can leave comments on the website. Suggestions can also be sent in writing to the PM office in Islamabad.