During the last fiscal year, the government expanded the Prime Minister’s Youth Business and Agriculture Loan Scheme, introducing Tier-4 to finance laptop purchases and to support prospective overseas workers.
As per Pakistan Economic Survey 2024-25 presented by Federal Minister for Finance Senator Muhammad Aurangzeb on Monday, the government has expanded the Prime Minister’s Youth Business and Agriculture Loan Scheme and tier-4 has been added to provide financing for laptops.
The purpose of this scheme was to facilitate the youth in purchasing devices essential for academic and entrepreneurial pursuits.
Eligible applicants include students of Higher Education Commission-recognised institutions, freelancers, and entrepreneurs aged 18 to 30 years.
A Digital Youth Hub has been launched to provide information, and a National Youth & Adolescent Policy is being drafted in consultation with young people to address their concerns.
PM’s Youth Business and Agriculture Loan Scheme (PMYB&ALS) promoted entrepreneurship among youth by providing business loans on simple terms and with less markup through 15 Commercial, Islamic, and SME banks.
The initiative aims to equip young Pakistanis with the necessary skills, resources, and opportunities to become self-reliant and contribute meaningfully to the nation’s development.
The Prime Minister’s Youth Programme (PMYP) is a comprehensive initiative focusing on youth development through the 4Es Framework: Education, Employment, Engagement, and Environment. Under this umbrella, several key initiatives have been launched or expanded.
For the Overseas Workers scheme, a loan of upto Rs 1 million would be provided to cover skill training, travel and visa costs, and initial settlement expenses.
Eligible applicants include workers aged 21 to 45 with a valid job letter or recruitment through the licensed Overseas Employment Promoters.
The loan tenor will be up to five years, with repayment in equal monthly installments. Furthermore, Pakistan Education Endowment in which 861 scholarships were awarded across Pakistan by the Pakistan Education Endowment Fund (PEEF), with a total of 250 million rupees disbursed.
This marked the disbursement of scholarships to students nationwide, providing them with the opportunity to pursue their educational aspirations.
Notably Prime Minister’s Digital Youth Hub (DYH) marked a significant step toward connecting Pakistan’s youth to all opportunities under the four core areas of PMYP.
A Digital Youth Hub was being developed via PMYP’s with support from UNICEF – Generation Unlimited, which is Pakistan’s first national platform designed to connect youth with these opportunities.
This programme will further empower youth by providing AI-driven recommendations and personalized access to resources, supporting growth and development. Pakistan is actively developing a National Adolescent and Youth Policy. The Prime Minister’s Youth Programme is leading the effort in collaboration with UNICEF through Generation Unlimited.
This policy aims to directly address the needs and aspirations of adolescents and youth in the country.
The government is also working on a National Adolescent and Youth Policy in collaboration with UNICEF, aimed at addressing the specific needs and aspirations of the country’s youth.
These initiatives underscore the government’s commitment to leveraging the potential of Pakistan’s young population for sustainable economic growth and development.
By investing in its youth, Pakistan is positioning itself for a brighter future, with potential for large-scale job creation and economic growth driven by green and digital transitions.