KATHMANDU: The much-hyped Prime Minister Employment Program has been launched amid a special ceremony at City Hall in the capital today.

Launching the program, Prime Minister KP Oli dubbed the program a “step forward’ towards the path of ‘Prosperous Nepal and Happy Nepali’ envisioned by the government.

“Unemployment and poverty are the major hindrances that have been preventing the country from moving ahead to achieve the goal of prosperity,” he said amid a jam-packed audience.

The government has announced the Prime Minister Employment Program in a bid to create massive job opportunities for Nepali youths in the country, thereby discouraging foreign employment.

Prime Minister Oli claimed that his government has launched various people-oriented programs, including the Social Security Fund aimed at improving the living standard of the Nepali people. The PM Employment Program, he argued, has been planned to create massive job opportunities to end poverty in the country.

We are inching closer to our set priorities as the incumbent government is moving ahead with a clear-cut goal and vision, PM Oli added.

The government has announced the Prime Minister Employment Program in a bid to create massive job opportunities for Nepali youths in the country, thereby discouraging foreign employment.

According to the Ministry of Labor, Employment and Social Security, the government has plans to introduce programs to create 200,000 jobs in the fiscal year 2018/19 and 700,000 jobs in 2022/23.

The government will provide subsidized loans to youths to start up their own business, as per the program.

Under this program, the government will issue loans to students based on their educational certificates as collateral, provide up to Rs one million to foreign employment returnees based on their skills and Rs 500,000 seed money to start up their own businesses.