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Investment of Rs 3.2 million in youths to encourage self-employment

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Province 1:  An electrician of Kankai, Mr.Ram Prasad Koirala said -” It’s more profitable to work alone than in a group in my profession.” He is looking forward to working alone. He does not have essential types of equipment for him to work alone. He had been working with his friends who can provide essential equipment for him. The Kankai Municipality recently announcing to provide loans to youths without collateral. The municipality has provided him with a loan of Rs 100, 000 which he has to repay in three years.

A total of 32 youths have benefitted under the municipality’s scheme aimed at empowering skilled workers.

Kankai Municipality Mayor Mr. Rajendra Prasad Pokharel said -“We have invested Rs3.2 million on the program this fiscal year. The beneficiaries will have to pay a 6 percent interest. A Youth Self-employment Fund has been established to empower the youths and stop them from flying abroad for work.”

The municipality had invested Rs2.25 million to provide loans to the youths. The beneficiaries of the loans have started beekeeping, poultry farming, horticulture and vegetables and cash crop production last fiscal year.

A local youth, Mina Pathak said -“I have started a pickle industry “Pathibhara Achaar Udhyog” with the loan I received.” She mentioned-” Even though Rs100,000 might not suffice to start a business, it has provided a source of inspiration and encouragement to pursue a business. I have been receiving the desired return from my business.”

Similarlya local youth, Suresh Gautam said- ” My business is currently small-scale, but I have hopes that I’d make it big someday.”He was the recipient of last year’s program. Recently he is busy in beekeeping. He mentioned-” The municipality’s help has motivated me.”

Chair of the self-employment program, Mr. Chuwalal Rajbanshi presume that the municipality had received applications by 264 youths this year. Out of them the which the best applicants were chosen. He mentioned -“We aim to motivate youths who can run a business. We also train them in the process.”

Source: The Kathmandu Post