The government has allocated Rs over 19 billion for youth’s skills development while over Rs 203 billion have been disbursed to 277,616 students under youth loan scheme, Daily Times has learnt reliably.
As per available documents, three major schemes have been started by federal government for youth’s development across the country which includes Prime Minister’s Youth Skill Development Program (PMYSDP), PM’s youth skill development program, PM’s Bak-Ikhtiyar Naujawan Internship Program and skills development program of NAVTTC. Moreover, the Rs 203.7 billion have been disbursed so far to 277, 616 students under the PM loan scheme which ranges loan from Rs 0.5 million to Rs 1.5 million with 5 per cent and 7.6 markup respectively to the youngsters to become entrepreneur. Moreover, 100,000 laptops have been distributed to the students under Phase-III of PM’s laptop scheme.
Ministry of federal education had forwarded summary to PM for approved for the approval of PMYSDP while Executive Committee of the National Economic Council (ECNEC) headed by Prime Minister had approved three-year budget of Rs 15 billion with the aim to give a hope to country’s young population.
The documents further read that PMYSDP targeted training of 160,000 youth is to impart skills employers seek. By addressing gaps in industrial productivity, IT competence, and conventional trades, the program signals a shift from ad hoc approaches to skill development to a more structured, sustainable strategy. It’s an IT-focused initiative, aims to skill 46,000 individuals in digital technologies, recognizes the world’s rapid digitization and Pakistan’s potential to become a significant player in the global tech arena.
Similarly, the emphasis on industrial productivity, with plans to train 64,000 youth in manufacturing and related fields, is a timely response to the need for reviving Pakistan’s stagnating industrial sector. Including 49,000 participants in conventional skills training covering trades such as carpentry, plumbing, and tailoring acknowledges that economic empowerment often starts at the grassroots. Beyond training, the program’s plans to establish eight high-impact IT training centers are a strategic move to institutionalize skill development.
By incorporating international certification and skill verification, the program ensures that Pakistani workers can compete globally, enhancing their employability in global markets. This initiative promises to increase foreign remittances, a lifeline for Pakistan’s struggling economy. The program is not merely a youth training initiative but a carefully calibrated intervention to bolster Pakistan’s economy.
Likewise, the National Vocational and Technical Training Commission (NAVTTC) have been allocated Rs 4,700 million to start skill development program. The major objective of this program was also improving employment rate through industry based training and improving skills information system.
Under the PM’s youth business and agriculture loan schemes the youngsters are being encouraged to start their own business by availing loan through 15 commercial banks across the country. According to the documents, the loan was segregated into three tiers such as tier one up-to to Rs 0.5 million without any markup, tier-II ranges between R 0.5 million to Rs 1.5 million with 5 per cent market while tier-III loan consisted on Rs 1.5 million to 7.5 million with 7 per cent markup rate.