ISLAMABAD: A new loan program allows government officials to borrow millions at a very low interest rate of 2 percent.
As per the details, the initiative aims to financially support officers of the Pakistan Administrative Services (PAS) and Provincial Management Service (PMS). The scheme offers loans at a minimum interest rate of just 2 percent, ensuring affordability for those in need of financial assistance.
A committee headed by Finance Secretary Mujahid Sherdil was set up to oversee the implementation of the program. Under the initiative, the loan limit is determined by the officer’s grade.
The loans will be repaid in easy installments, making the program more accessible and manageable for officers at different levels.
The low mark-up loan initiative aims to promote significant financial support, convenience and relief for officers serving in various positions within the government.
| Officer Grade | Loan Limit |
|---|---|
| Grade 17 | Up to Rs. 5 million |
| Grade 18 | Up to Rs. 15 million |
| Grade 19 & 20 | Up to Rs. 20 million |
| Grade 21 & 22 | Up to Rs. 250 million |
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