The Prime Minister’s Youth Program has distributed Rs209 billion in loans to 31,700 young business owners under the Prime Minister Youth Business and Agriculture Loan Scheme over the past eight months.
The initiative aims to support young entrepreneurs by providing financial assistance to establish and expand their businesses, fostering employment opportunities and economic growth.
According to official data, the program offers three tiers of loans. Under Tier 1, youth receive interest-free loans of up to Rs500,000. In Tier 2, loans ranging from Rs500,000 to Rs1.5 million are provided at a 5% interest rate, while Tier 3 offers loans between Rs1.5 million and Rs7.5 million at a 7% interest rate.
The loan facility is available through 15 banks, ensuring accessibility for young entrepreneurs across the country. Additionally, a streamlined online application process has been introduced to facilitate hassle-free access to the program.
This milestone underscores the government’s commitment to fostering a supportive entrepreneurial ecosystem, enabling youth to actively contribute to Pakistan’s economic development and prosperity.
