PM Shehbaz raises youth loan limit to Rs25m under business, agriculture schemes

Prime Minister Shehbaz Sharif increased the individual loan limit under the Prime Minister’s Youth Business and Agriculture Loan Schemes from Rs7.5 million to Rs25m, with the loans to be provided in easy instalments.

The decision was taken at a meeting chaired by the prime minister to review the disbursement of loans to young people and the implementation of the two schemes.

A total of Rs292 billion has been allocated this year to provide loans to young people under the schemes, according to a briefing at the meeting.

The prime minister directed that 30 per cent of the loans be reserved for women to help them achieve economic independence and encourage their participation in business activities.

He also directed that the minimum age for applicants be reduced from 21 to 18 years to enable young people to start businesses and take part in agricultural activities at an earlier age.

PM Shehbaz appreciated the efforts of Finance Minister Muhammad Aurangzeb and his team in putting in place effective arrangements to provide financial support to young people for business and agricultural activities.

The meeting discussed various measures to empower young people, create business opportunities for them and increase their participation in the agricultural sector.

The prime minister directed the Small and Medium Enterprises Development Authority (SMEDA) to provide all possible assistance to young people under the schemes, including guidance on starting businesses, business consultancy and technical support.

He also instructed the relevant authorities to launch a countrywide awareness campaign to inform young people about the schemes, available opportunities and government initiatives so that more applicants could benefit from the facilities.

According to the briefing, 581,341 young people have received loans since January 2023, a figure 10 times higher than the number of beneficiaries over the preceding 10 years. Loans worth Rs313.9b have been disbursed during this period.

During the 2026-27 financial year, an estimated 266,700 young people are expected to receive loans worth Rs292b under the schemes, the meeting was told.

The prime minister said young people were a valuable asset for Pakistan and that the government was committed to empowering them, harnessing their potential and providing them with decent and productive employment opportunities.

The meeting was attended by the finance minister, Special Assistant to the Prime Minister on Youth Affairs Rana Mashhood Ahmad Khan and Special Assistant to the Prime Minister on Political Affairs Talha Barqi.