ISLAMABAD:Prime Minister Muhammad Shehbaz Sharif chaired a review meeting on Prime Minister’s Youth Business and Agriculture Loan Schemes.
The meeting was held to review the provision of loans to youth under the Prime Minister’s Youth Business Loan Scheme and the Prime Minister’s Youth Agriculture Loan Scheme and the implementation of the schemes.
The Prime Minister increased the limit of personal loans under the Youth Business and Agriculture Loan Schemes from Rs 7.5 million to Rs 25 million, which will be provided in easy installments.
This year, a total of Rs 292 billion has been allocated for providing loans to youth under these schemes.
The Prime Minister appreciated the efforts of Finance Minister Senator Muhammad Aurangzeb and his team for effective arrangements for financial support for youth in business and agricultural activities.
The meeting considered various measures to empower the youth, provide them with business opportunities and increase their participation in the agricultural sector.
The Prime Minister directed that 30 percent of loans be allocated to women in the loan provision program so that they can become economically independent and increase their participation in business activities.
The Prime Minister directed that the minimum age limit for obtaining loans for the youth be reduced from 21 years to 18 years so that the youth can be provided with opportunities to start businesses and participate in agricultural activities at an early age.
The Prime Minister directed that the Small and Medium Enterprises Development Authority (SMEDA) provide all possible assistance to the youth under the scheme, including business start-up, guidance, business consultancy and technical assistance.
The Prime Minister directed the concerned authorities to conduct a nationwide awareness campaign among the youth about these schemes, available opportunities and government initiatives so that maximum youth can benefit from these facilities.
The Prime Minister said that the youth are a valuable asset of Pakistan. The government is committed to empowering the youth, harnessing their potential and providing them with decent and productive employment opportunities, he added.
It was told during the briefing that since January 2023, loans have been provided to 581,341 youth, which is 10 times more than the previous ten years.
During this period, loans worth Rs 313.9 billion have been given. It is estimated that Rs 292 billion will be given to 266,700 youth during 2026-27.
The meeting was attended by Federal Finance Minister Senator Muhammad Aurangzeb, Special Assistant to the Prime Minister on Youth Affairs Rana Mashhood Ahmed Khan and Special Assistant to the Prime Minister on Political Affairs Talha Burki.