PALPA, July 10: Bagnaskali rural municipality of Palpa has started to provide loans to promote self employment in agriculture and animal husbandry after youths present their education certificates as collateral.
Chairperson of the rural municipality, Krishna Prasad Basyal said that they came with the plan to reduce unemployment despite their education. “There are many educated youths who are unemployed. Some have opted for foreign employment. With this self-employment scheme, we hope to retain youths.”
For the current fiscal year, Rs. 700,000 has been allocated. A group led by Prem Bahadur Bagale, who completed his Masters in sociology kept his degree certificate as collateral for Rs. 400,000 loan. Three other groups took loans of Rs. 100,000 each to start poultry farming, tunnel farming and goat rearing.
“Those who take the loan must start their enterprises within three months. They won’t be required to pay interests for two years. However, if they clear their loans within two years, we’ll reduce five per cent of the amount,” Ram Chandra Aryal, administrative chief of the rural municipality said adding that they’d continue the program in next fiscal year as well.