PM laptop scheme announced, up to Rs. 2 million loan for students

PM laptop scheme announced, up to Rs. 2 million loan for studentsPrime Minister Laptop scheme has been announced for the young and educated people all over the country, announced by Federal Finance Minister – Ishaq Dar in the budget 2013-2014 speech.

All the students who are having higher education in Pakistan from reputed institutions which are recognized by Higher Education Commission (HEC) will have a chance to claim a laptop.

PML-N government has allocated Rs. 3 billion for the scheme and HEC has been directed to form an eligibility criteria in the coming days which will be advertised later.

The scheme is an upgraded version of Free Laptop scheme which was launched by Chief Minister of Punjab Mian Shahbaz Sharif in January 2012 while distributing 100000 Dell laptops among the graduates and post graduate students of the province. Later Shahbaz Sharif distributed 100000 more laptops among the students.

The announced laptop scheme is from the federal government, it is still possible to see a separate scheme coming from provincial governments such as Punjab and KPK.

Apart from the laptop scheme, government has also announced several scholarship and youth training programs.

Students who have done masters and are unable to find a job will be offered 1 year internship in government and public corporations and Rs. 10,000 stipend every month will be paid to them during the period.

Students from the less developed areas who are getting professional education, for example, doctors and engineers, will have their fee paid by federal government. Mostly, students from interior Sindh, Southern Punjab and Baluchistan will be accommodated.

Details of Loans and 6 Schemes announced by Nawaz Sharif

Loans will be given to students who want to become entrepreneurs. Rs. 1 lack to Rs. 2 million loan will be given on 8% markup through regular banks to the students having technical education who desire to start their own business.  The difference between regular markup in the market and announced markup of 8% will be borne by federal government.