Wednesday, September 6 2006 15:54 Hrs (IST) - World Time -

Islamabad: Pakistan President Pervez Musharraf has launched a Rs.100 billion ($1.6 billion) self-employment scheme to motivate educated youth across the country but more specifically in troubled Balochistan.

Responding to queries after the launch of the President's Rozgar Scheme yesterday, Musharraf said such schemes "have more application and significance for Balochistan, where educated youth must get job opportunities and contribute to socio-economic uplift of the province".

The self-employment scheme, through which loans from Rs.15,000 to Rs.150,000 would be offered to the poor, would be fully financed by the National Bank of Pakistan (NBP), The News International said.

Musharraf launched the scheme for five brands fixed phone PCO, mobile PCO, transport rickshaw, vehicles for goods delivery and small utility stores.

"This scheme will target poorest of the poor and provide employment opportunities to the unemployed youth," Musharraf told reporters.

The scheme targets 2.5 million unemployed youth in three to five years through simplified financing by the NBP.