ISLAMABAD (Kashmir English): Prime Minister of Pakistan Shehbaz Sharif has increased the individual loan limit for youth under the ‘Prime Minister’s Youth Business Loan Scheme’ and the ‘Prime Minister’s Youth Agriculture Loan Scheme’ from Rs 7.5 million to Rs 25 million.
These loans will be provided on easy installment plans, with a total allocation of Rs 292 billion earmarked for both schemes this year.
A meeting, chaired by Prime Minister Shehbaz Sharif, was held to review the implementation of these schemes and the provision of loans to the youth.
During the meeting, various measures were discussed aimed at economically empowering the youth, creating business opportunities, and increasing their participation in the agricultural sector.
The Prime Minister commended the efforts of Federal Minister for Finance, Senator Muhammad Aurangzeb, and his team for establishing effective financial support mechanisms for youth-led business and agricultural activities.
Prime Minister Sharif directed that 30 percent of the loans under this program be reserved for women, with the objective of fostering their economic independence and increasing their involvement in entrepreneurial ventures.
He also directed that the minimum age eligibility for obtaining these loans be lowered from 21 to 18 years.
The Prime Minister stated that this reduction in the age limit is intended to enable young people to start businesses and engage in agricultural activities at an earlier age.
Furthermore, the Prime Minister instructed the Small and Medium Enterprises Development Authority (SMEDA) to provide all possible assistance to young individuals as they embark on their business ventures.
He stated that SMEDA should provide all facilities available under the scheme—including business guidance, consultancy, and technical support—to the youth.
The PM also directed the relevant authorities to launch a nationwide, extensive awareness campaign regarding the Youth Business and Agriculture Loan schemes.
He emphasized that young people should be informed about these loan schemes, available opportunities, and government initiatives, ensuring that as many youths as possible can benefit from these facilities.
Over 581,000 youths provided with loans since January 2023
According to a briefing provided during the meeting, a total of 581,341 young people have been granted loans since January 2023.
Officials noted that the number of youths who received loans during this period is ten times higher than the total recorded over the preceding 10 years.
The briefing revealed that, since January 2023, loans amounting to a total of Rs 313.9 billion have been extended to the youth.
According to officials, it is projected that during the 2026-27 fiscal year, loans totaling Rs 292 billion will be provided to 266,700 young people.
Addressing the meeting, Prime Minister Shehbaz Sharif stated that the youth are a valuable asset to Pakistan, and the government is committed to their economic empowerment.
He stated that the government is taking measures to harness the potential of the youth, provide them with opportunities to advance in entrepreneurial activities, and assist them in securing dignified and productive employment.
The meeting was attended by Federal Minister for Finance Senator Muhammad Aurangzeb, Special Assistant to the Prime Minister on Youth Affairs Rana Mashhood Ahmad Khan, and Special Assistant to the Prime Minister on Political Affairs Talha Burki.
