Islamabad (Pakistan News) The Prime Minister of Pakistan has raised the individual loan limit under the Youth Business and Agriculture Loan Schemes from Rs 7.5 million to Rs 25 million; these loans will be repayable in easy installments. A total of Rs 292 billion has been allocated for the current year to provide loans to the youth under these schemes.
According to a statement from the Prime Minister’s Office, a review meeting chaired by Prime Minister Muhammad Shehbaz Sharif was held to assess the implementation of the ‘Prime Minister’s Youth Business Loan Scheme’ and the ‘Prime Minister’s Youth Agriculture Loan Scheme,’ as well as the provision of loans to the youth under these initiatives.
The Prime Minister increased the individual loan limit for these schemes from Rs 7.5 million to Rs 25 million, with the loans to be provided on easy installment terms. A total of Rs 292 billion has been allocated for the current year to facilitate the provision of loans to the youth under these schemes.
Shehbaz Sharif commended the efforts of Finance Minister Senator Muhammad Aurangzeb and his team for establishing effective arrangements to provide financial support for business and agricultural activities to the youth. During the meeting, various measures were discussed aimed at empowering the youth, creating business opportunities, and increasing their participation in the agricultural sector.
The Prime Minister directed that 30 percent of the loans under the financing program be earmarked for women, with the objective of fostering their economic independence and enhancing their involvement in business activities.
The Prime Minister further directed that the minimum age eligibility for youth to obtain loans be lowered from 21 to 18 years, enabling them to start businesses and engage in agricultural pursuits at a younger age.
He instructed the Small and Medium Enterprises Development Authority (SMEDA) to provide comprehensive support to the youth under this scheme, including assistance with business startups, mentorship, professional consultation, and technical guidance.
The Prime Minister tasked the relevant authorities with launching an extensive, nationwide awareness campaign regarding these schemes, available opportunities, and government initiatives, ensuring that the maximum number of young people can benefit from these facilities. Emphasizing that the youth are a valuable asset to Pakistan, the Prime Minister reaffirmed the government’s commitment to empowering them, harnessing their potential, and providing opportunities for dignified and productive employment.
Since January 2023, loans have been extended to 581,341 young individuals a figure ten times higher than the total recorded over the preceding ten years. During this period, loans amounting to 313.9 billion have been disbursed; it is estimated that 292 billion in loans will be provided to 266,700 youths during 2026-27.
The meeting was attended by Federal Minister for Finance 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.