The government of Khyber Pakhtunkhwa, in Pakistan, has announced to offer easy loans for solar energy projects in KPK Province.
This loan program of 300 Million Pak Rupees would be helpful to meet the province's energy needs. This is a revolutionary step by KPK provincial government in establishing a solar energy industry in province.
Bank of Khyber will provide the loan. However these loans are not interest-free and a annual markup fee of 7 percent is applied.
The provincial government of Islami Jamhooria-e-Pakistan should offer interest-free loans. The government is claiming that these are easy loans but these are not as are not interest-free loans.
Eligibility:
- Permanent Resident of KPK
- Registered Tax Payer
- Business in KPK
- Age not more than 60 years
- Not a defaulter of any Bank / Organization
Last date to submit applications forms is 30-June-2014.
The only reason of publishing this news:
Islamic country's governments should offer interest-free loans.
Public should boycott these types of loans, which are not interest-free, to demoralize the authorities.
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