ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday increased the limit of the government’s loans for youth for business and agriculture activities from Rs7.5 million to Rs25 million, the Prime Minister’s Office (PMO) said.
He directed the relevant authorities to launch awareness campaign regarding these schemes and government initiatives to ensure that maximum young people can benefit from these opportunities.
He said youth are valuable asset of the country and the government is committed to empower them by harnessing their potential and providing them with employment opportunities.
The Prime Minister directed that 30 percent of the loans under the Youth Business and Agriculture Loan Schemes be reserved for women.
He also directed that minimum age limit to get these loans be reduced from 21 to 18 years, enabling more youth to start businesses and engage in agricultural activities.
The Prime Minister directed the Small and Medium Enterprises Development Authority to provide all possible support to the youth under these schemes, including guidance regarding business consultancy and technical support.
A total of 292 billion rupees have been allocated in the current financial year for provision of loans to youth under these schemes.
The meeting discussed measures to empower youth, create business opportunities, and increase their participation in the agricultural sector.
It was briefed that since January 2023 loans worth 313.9 billion rupees have been disbursed among youth.
