miafridi
Prime Minister (20k+ posts)
Re: Nawaz Said: Interest Free Loans to Youth (Before Elections April 2013) Vs. 8% Interest on Loan (Nov 2013)
The loan will be given on 8 years bases so yearly interest rate would be 1% which ignorable interest. It is not the interest rate that we condemn this loan, but it is their strategy of making the people suffer further after taking the loan. Most of the people might not have professional skills and they may take the loan and may incure big loses in business so they will only be left with huge debts, Making their lives further miserable. NS should instead focus on creating jobs for the youth than giving them loans which can further increase the suffering of many youths. It is not a total fail strategy but it will bring more chaos than good for many people i think.
Correction: I have just come to know that its 8% per year, But still the itnerest rate might not be an issue but it is the thing that i said above is the issue. Of course if one debates about "Sood is Haram" then i totally agree that "Sood is Haram" and should be eradicated at all from our systems.
The loan will be given on 8 years bases so yearly interest rate would be 1% which ignorable interest. It is not the interest rate that we condemn this loan, but it is their strategy of making the people suffer further after taking the loan. Most of the people might not have professional skills and they may take the loan and may incure big loses in business so they will only be left with huge debts, Making their lives further miserable. NS should instead focus on creating jobs for the youth than giving them loans which can further increase the suffering of many youths. It is not a total fail strategy but it will bring more chaos than good for many people i think.
Correction: I have just come to know that its 8% per year, But still the itnerest rate might not be an issue but it is the thing that i said above is the issue. Of course if one debates about "Sood is Haram" then i totally agree that "Sood is Haram" and should be eradicated at all from our systems.
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