Abb Takk News

Federal Cabinet Directs SBP To Control Surge In Dollar Rate

ISLAMABAD: The federal cabinet on Tuesday directed the State Bank of Pakistan (SBP) to control rapid surge in dollar price through strict measures.

Prime Minister’s Special Assistant on Information and Broadcasting Dr Firdous Ashiq Awan briefing media about the federal cabinet in Islamabad said the cabinet has approved Kamyab Jawan Program to economically empower youth.

She said under the program, youth can get a loan from 100,000 to five million rupees in two categories. She said under the first category banks will provide loan up to 500,000 rupees at six per cent mark-up with lending equity of 10 per cent of the amount applied.

Dr Firdous Ashiq Awan said 25 per cent of the loan will be granted to women to make youth self-employed to control inflation and joblessness.

She said Minister for Federal Education and Professional Training gave a detailed and comprehensive briefing on new education policy.

The cabinet was informed that Prime Minister’s Advisor on Finance Dr Abdul Hafeez Shaikh will unveil a long term economic plan on Saturday.