Daily Times

The government has planned to provide interest-free loans of up to Rs 1 million to 100,000 young people going abroad for work under the PM Youth Program loan scheme to help young Pakistanis seeking career opportunities abroad.

According to an official, the loan package will include all travel allowances, covering key expenses such as skills training, visa costs, and initial settlement costs. He said that the loan will be offered with a flexible repayment plan, featuring equal monthly installments spread over a tenure of 7 to 8 years. Eligible applicants must be between 21 and 45 years old, with a valid job offer or recruitment through licensed Overseas Employment Promoters. He said this move was designed to empower young Pakistanis to explore global career opportunities, fostering economic growth and development.

By providing financial support, the government aimed to enhance the skills and employability of its youth, ultimately contributing to the country’s progress. The scheme was expected to have a positive impact on the lives of thousands of young Pakistanis, enabling them to pursue better career opportunities worldwide. “With this initiative, the government demonstrates its commitment to investing in the country’s future generations and promoting economic development”, he stated.

By supporting its youth, the government hoped to reap long-term benefits, including increased economic activity and a more skilled workforce, and this initiative was a step towards empowering Pakistan’s youth to compete globally, he added.