Vehicle loans for journalists

The proposal made by President through Budget 2012 to implement a relief loan scheme for senior journalists, artistes and authors to purchase motor vehicles and to form a fund for their welfare is being implemented.

Accordingly, senior journalists, artistes and authors are now able to obtain a maximum amount of Rs. 1,200,000 as a loan from State banks under concessionary interest rates to purchase cars or vans.

The relevant instructions and approval have already been granted by the Treasury to the Secretary, Ministry of Mass Media and Information in order to grant vehicle loans to the journalists and form a welfare fund for them under the first phase of the loan scheme.

Accordingly, measures will be taken by the Ministry of Mass Media and Information to call for applications and create awareness among journalists within the next few days.

Concessions will be granted to the artistes and authors under the second phase of this scheme and the Ministry of Culture and the Arts will coordinate this effort.