Islamabad, Dec 21: The government has launched a new loan scheme aimed at providing financial assistance to officers of the Pakistan Administrative Services (PAS) and Provincial Management Service (PMS). Under this scheme, officers can borrow funds at a low markup rate of just 2%, offering significant financial support to public servants.
A committee, led by Finance Secretary Mujahid Sherdil, has been tasked with overseeing the management of the program. The scheme’s loan limits are based on the officer’s grade:
- Grade 17 officers can apply for loans up to Rs. 5 million.
- Grade 18 officers are eligible for loans up to Rs. 15 million.
- Officers in grades 19 and 20 can secure loans up to Rs. 20 million.
- Senior officers in grades 21 and 22 are eligible for loans up to Rs. 250 million.
The loan repayment structure has been designed to ensure ease and affordability, with officers able to repay the borrowed amounts through manageable installments. This initiative is expected to provide much-needed financial relief and convenience to government officers, supporting them in various personal and professional endeavors.
