Youth entrepreneurship to get Rs300b boost under PM’s business loan scheme: Chairman

The Prime Minister’s Youth Pro­gramme Chairman Rana Mashhood Ahmed Khan Sunday announced that Prime Minister’s Youth Business Loan Scheme has achieved remarkable suc­cess, disbursing approximately Rs186 billion to young entrepreneurs across Pakistan and now sets its sights on an ambitious target of Rs300 billion.

In an exclusive interview with state TV, he explained that the Prime Min­ister’s Youth Loan Scheme has made significant strides in empowering young entrepreneurs, with approxi­mately Rs186 billion distributed among 790,000 young entrepreneurs to boost economic development. The Prime Minister’s Youth Business and Agriculture Loan Scheme has made significant strides in empowering fe­male entrepreneurs, with 13 percent of female beneficiaries in previous years, adding, this year, the target has been set at 33 percent female partici­pation, aiming to provide more loan opportunities to young women.

Responding to a query, he said many students lack knowledge on how to apply for loans, to address this issue, facilitation centers are being estab­lished where financial experts will guide students through the loan appli­cation process. These centres will also utilise web portals to streamline the process, making it easier for students to apply, he mentioned. Chairman fur­ther unveiled a comprehensive vision for youth-driven socio-economic de­velopment in Pakistan, as outlined by Prime Minister Shehbaz Sharif.

This vision empowers young girls and boys equally through various ini­tiatives, including Youth Loan Schemes to provide financial support to young entrepreneurs, Laptop distributions to enhance digital access and education, skill programmes to equip youth with marketable skills, facilitation centres to offer resources and guidance for youth development, and scholarship programmes to support education and personal growth, he added. By invest­ing in Pakistan’s youth, who make up about 70 percent of the country’s population, Khan aims to harness their potential for a brighter future and sustainable development. The PML-N has taken groundbreaking ini­tiatives for youth empowerment, he said, adding, these initiatives aim to equip young Pakistanis with essential skills, education and economic oppor­tunities to thrive in modern world.

The Prime Minister’s Youth Pro­gramme is taking a huge step forward in empowering young Pakistanis with in-demand skills, he said. Through col­laborations with NEFCDC and TEVTAS, we are introducing “Demand-Based Skilled” programmes that cater to the needs of countries around the world. This means our youth will be trained in skills that are actually needed, both internationally and locally, he men­tioned. PM Shehbaz Sharif also in­structed to facilitate students through the laptop scheme to talented students on merit through an online transpar­ent system, adding, this scheme is en­visioned to promote outreach of youth to information and communication technologies, bridging the digital di­vide within the higher education sec­tor and beyond, he highlighted.

Last year, one million laptops were distributed in Punjab, and 600,000 in the federal capital, he said, adding, this year, the distribution numbers are ex­pected to increase with an additional one million smartphones being distrib­uted interest-free. He added that the present government has re-announced a collaboration with the Higher Educa­tion Commission (HEC) to offer schol­arship programmes and endowment funds for students. This initiative aims to promote higher education and research in Pakistan, providing opportunities for students to pursue their academic goals without financial constraints, he added. In his concluded remarks said that Paki­stan is experiencing a significant turn­around, with the world’s trust in the country being restored and its economy getting back on track. This is a remark­able achievement, and now it is time for the youth to play their part. To truly unlock their potential, young Pakistanis must learn to trust themselves, respect their parents and value the guidance of their teachers, he added.