ResCon | PAC asks details of YSEF's fund

Dated:2011-12-29

RC Weekly Wrap Up

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	General News PAC asks details of YSEF's fund Wednesday - 28th December, 2011 \| www.thehimalayantimes.com

	Public Accounts Committee under Legislature Parliament today asked Youth Self-employment Fund (YSEF) to furnish fund details within a week. “The committee directed the fund to send details– loan issues date, name and address of borrower, loan amount and objectives– within a week,” president of the committee Ram Krishna Yadav said. The committee has also asked the fund to submit separate detail of loan amount issued to bank and cooperatives along with details of loan refund from borrower as well as due amounts. The committee issued the directive for more clarity on loan floating and to check whether political parties have influenced the fund to appease their cadres, he said. The UCPN (Maoist) led government had established the fund three years ago to promote entrepreneurship among jobless youths providing Rs 200,000 to them. The fund has approved loans worth Rs 1.75 billion and distributed Rs 371 million among more than 22,000 people through banks and financial institutions.