Chairman TEVTA vows for interest free loans to more youth to counter unemployment

Irfan Qaiser Sheikh

LAHORE: Chairman Technical Education and Vocational Training Authority (TEVTA) Irfan Qaiser Sheikh vowed for provision of interest free loans to one lac students per annum for countering unemployment from society. Amount allocated for this purpose in the Budget will be increased upto Rs 1000 million in next year.

While addressing a meeting here on Monday at TEVTA Secretariat, Chairman Irfan Qaiser Sheikh said that TEVTA has allocated Rs 500 million for provision of interest free loans to its graduating students for setting up their business after getting training from TEVTA. He went on saying that till 2017, it has provided loans worth Rs 821 million to its students.

He further added that reason behind provision of this amount that graduating students who performed well in their courses will be able to start their own business rather wasting time for looking of jobs. Best way to control or countering unemployment is to empower youth that they go for other options than jobs, he added. Chairman explained that a student having electrical diploma can 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.

He said that when he took charge three years ago, he decided that rather than spending huge amount on infrastructure it should be spent on human resource. That’s the reason we have provided loans to around 15,000 students in previous year, he said.

Talking about female students, he added that TEVTA is providing loans to all shining female students registered in all courses across the Punjab. Everyone talks about women empowerment but it could only happen with practical steps rather than giving statements, Chairman observed.

Emphasizing upon the need of the interest free loans, he added that Japan and Turkey had provided such loans to its students for helping them in establishing their own set up. “Everyone can witness where these both countries stand globally,” he added. He added that in Canada, a skilled person is getting salary of seven times greater than a simple graduate.

Irfan further explained that by getting these loans, students will play their part in the strengthening the economy of the country besides they will also able to bear expenses of their families. He said that all loans will be provided on merit as those students, who are top position holders in their trades, apply for the loan and they are selected for loans.


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