The Prime Minister’s Youth Loan Scheme has been expanded to offer young individuals financial assistance for both business ventures and laptop purchases. This announcement was made by Rana Mashhood Ahmad Khan, Special Assistant to the Prime Minister on Youth Affairs, who confirmed that the State Bank of Pakistan has issued an official notification regarding the update.
The new policy makes laptops available to students between 18 to 30 years old who study at Higher Education Commission (HEC)-approved educational institutions through a loan application process. Under the updated initiative young people who plan to work abroad can also receive financial assistance. The initiative grants Rs. 1 million worth of loans for paying training costs as well as visa processing fees and travel expenses.
Rana Mashhood highlighted the government’s dedication to promoting youth opportunities while reporting that the Prime Minister’s Youth Loan Scheme distributed Rs. 186 billion across professional and entrepreneurial youth in the nation.
Prime Minister Shehbaz Sharif took the initiative to increase Youth Program loan amounts from Rs. 500,000 to Rs. 1.5 million following his recent order.
Prime Minister Shehbaz Sharif convened a meeting in Islamabad to conduct a comprehensive evaluation of small and medium-sized enterprises. The discussion emphasized the necessity of collecting business data to enhance support for these enterprises. The Prime Minister emphasized the significance of small and medium enterprises (SMEs) as vital components of global economic development, subsequently directing the formulation of a specialized support initiative for female entrepreneurs.
The government is focused on empowering youth and women entrepreneurs to foster self-employment and job creation, with a strong emphasis on aligning Pakistan’s SME sector with international standards.