MUZAFFARABAD (Kashmir English): In a major step to support youth employment, Azad Jammu and Kashmir (AJK) government have announced it will provide Rs.1 billion in its future budget towards the Prime Minister Youth Loan Program. The project is meant to give free commercial loans to the youth who want to establish their own businesses.
Finance Minister Abdul Majeed Khan, while presenting the 2025–26 budget, said the Prime Minister Youth Loan Program is designed to empower educated but unemployed youth by giving them access to capital. “Many young people want to start businesses but lack financial resources. This program will help bridge that gap,” he said.
Other than the Rs. 1 billion given by the government, another Rs. 1 billion, which is an interest-free loan, will come into the scheme through a joint venture with the Akhuwat Islamic Microfinance, which makes the total loan assistance of Rs. 2 billion.
The minister has also revealed that the technical education authority (AJK TEVTA) will train different skills in about 14,000 youth during the new fiscal year. IT Excellence Centres will be established in Muzaffarabad, Rawalakot and Mirpur to promote digital and tech-based careers.
These centres aim to offer high-quality IT training to help young people explore self-employment opportunities. This is especially important in the digital age, where freelancing and tech-based jobs are on the rise.
The Prime Minister Youth Loan Program is being seen as a positive move by the government to reduce unemployment. The interest-free loan program is certainly welcome news for the youth, especially for educated individuals who lack the financial resources to start their own businesses.
The government hopes that with proper training and financial support, youth will be encouraged to start small businesses, boost local economies, and reduce reliance on government jobs.
