Lahore: The Punjab cabinet approved the yellow cab scheme during its meeting on Thursday.For the scheme, the Punjab government had allocated Rs4.5 billion in the fiscal budget for 2011-12 to provide 20,000 yellow cabs to unemployed youth in the province.
Under the plan, the cabs (800cc) will be provided against the minimum down payment of Rs20,000. The remaining amount will be returned in interest-free installments.
Chief Minister Shahbaz Sharif said that this initiative has been taken to reduce unemployment in the province.
In the past, similar scheme was launched by the Nawaz Sharif-led government in 1992-93.