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ISLAMABAD: The Prime Minister’s Youth Program has successfully disbursed Rs209 billion in loans to 31,700 young entrepreneurs through the Prime Minister Youth Business and Agriculture Loan Scheme over the past eight months.
The initiative aims to empower the youth by providing financial resources to launch and expand their businesses, thereby promoting job creation and economic growth in Pakistan.
As per official figures, the Prime Minister’s Youth Program offers a structured loan scheme with three distinct tiers. Tier 1 provides interest-free loans of up to Rs500,000, while Tier 2 offers loans ranging from Rs500,000 to Rs1.5 million at a 5% interest rate. For larger business ventures, Tier 3 extends loans between Rs1.5 million and Rs7.5 million at a 7% interest rate.
The loans are accessible through 15 partnering banks, ensuring that young business owners across the country can benefit from the program. Additionally, a user-friendly online application system has been introduced to simplify the process.
