Prime Minister Muhammadmian Soomro on Thursday termed unemployment in the country a big challenge which he said could be reduced through investment-friendly policies and providing micro-finance loans to skilled people.
He was speaking at inaugural ceremony of new academic block at University of Arid Agriculture, foundation-laying of three mega projects and distribution of micro-credit loan cheques to deserving people. Soomro said micro-finance had a greater impact on the economic uplift of people by providing them employment. He said State Bank had also been asked to involve other banks for initiating micro-credit schemes to reduce unemployment rate.
He appreciated the microfinance scheme, which was initiated three years back by Governor Punjab Lt Gen (retd) Khalid Maqbool in collaboration with Bahria Town and was being run through Sociology department of the university.
He stressed on promoting quality education designed on modern principles for competing in the world. He said the government was focussing on elementary education for a student’s stronger educational foundation besides encouraging higher education. The Prime Minister appreciated Arid University’s faculty for attaining a standard at par with other prestigious institutions of the country in a short span of time.
He distributed cheques of micro-credit loans among 160 people from Potohar area to help them earn livelihood through small businesses.
Governor Punjab Lt Gen (retd) Khalid Maqbool said the microfinance scheme run by the Arid University was benefiting thousands of entrepreneurs.
He said through the support of Higher Education Commission, millions of rupees had been incurred on big educational projects in the university.
Dr Khalid Mehmood, Vice Chancellor of the university said development projects worth Rs 486.211 millions had been completed while with Rs 1446.124 million were being executed in the academia.
About the micro-credit scheme, he said the interest free loan ranged from Rs 15,000 to 25,000. In last three years, more than 1000 entrepreneurs had benefitted from the scheme while an amount of Rs 17.45 million was being disbursed with 85 percent recovery rate. 
Earlier, the Prime Minister inaugurated the new academic block costing Rs 49.5 million in the university premises and laid foundation-stone of three mega projects including Faculty of Veterinary and Animal Sciences with Rs 468.620m, Institute of Biochemistry and Biotechnology with Rs 358.619 and Development of On-farm Student Research Facilities with Rs 343.224m.