ISLAMABAD / LAHORE: Prime Minister Shehbaz Sharif on Sunday raised the maximum loan limit under the Prime Minister's Youth Business and Agriculture Loan Schemes from Rs7.5 million to Rs25 million, reduced the minimum eligibility age from 21 to 18 years and directed that 30pc of loans be reserved for women to promote youth entrepreneurship and economic empowerment.
Chairing a review meeting on the schemes, he directed the relevant authorities to facilitate young people in establishing businesses and undertaking agricultural activities by providing them with financial assistance, professional guidance and technical support. He said the government was committed to empowering the country's youth, harnessing their potential and creating decent and productive employment opportunities for them, describing young people as a valuable national asset.
The meeting reviewed the provision of loans under the Prime Minister's Youth Business Loan Scheme and implementation of the broader business and agriculture financing programme. Shehbaz Sharif directed that the increased loan facility of up to Rs25 million be provided in easy instalments, enabling young entrepreneurs to establish and expand businesses and participate in agricultural activities.
To encourage women's economic participation, he ordered that 30pc of the loans under the programme be allocated to women, enabling them to become financially independent and expand their involvement in business activities. He also directed the Small and Medium Enterprises Development Authority (Smeda) to extend all possible assistance to young applicants, including support for business start-ups, guidance, business consultancy and technical services.
The prime minister further instructed the authorities concerned to launch a nationwide awareness campaign to inform young people about the loan schemes, available business opportunities and other government initiatives so that the maximum number of eligible applicants could benefit. According to a briefing given at the meeting, 581,341 young people had received loans worth Rs313.9 billion since January 2023, representing a tenfold increase compared with the number of beneficiaries during the preceding 10 years.
Also, Rs292 billion had been allocated for 2026-27 to provide loans to approximately 266,700 young people under the schemes. The prime minister appreciated the efforts of Finance Minister Senator Muhammad Aurangzeb and his team for making effective arrangements to extend financial support to young people seeking opportunities in business and agriculture.
The meeting was attended by Finance Minister 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. Separately, PM Shehbaz Sharif visited Jati Umra in Lahore on Sunday and held a meeting with Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif to discuss the country's political situation, national affairs and economic challenges.
During the meeting, the prime minister took Nawaz Sharif into confidence on the law and order situation in Khyber Pakhtunkhwa and briefed him on recent measures being undertaken for the province's development and prosperity. He also apprised the PML-N president of the government's ongoing economic reforms and challenges.