ISLAMABAD – The federal government focused on creating an environment that encourages innovation and job creation and now Prime Minister’s Youth Program loan amount for small businesses has been increased from Rs5lac to Rs15lac.
The move comes as part of the government’s ongoing efforts to promote entrepreneurship, particularly among youth and women, and support the growth of small and medium-sized enterprises (SMEs) across the country of 242 million.
Prime Minister Shahbaz Sharif chaired a meeting with focus on the development of small enterprises. The premier along with other officials reviewed government’s progress in providing support to small businesses and discussed measures to further ease the process for entrepreneurs.
In his remarks, the PM stressed aligning the support for SMEs with international standards, an directed that the facilities provided to these businesses be designed according to successful models from developed nations.
He also called for the quick completion of a comprehensive survey to assess the needs and challenges of SMEs, which would help improve the government’s approach to supporting small businesses. PM further directed to work on a special package tailored for women entrepreneurs in small-scale businesses, ensuring that they have access to financial support and resources to grow their ventures.
He also reiterated crucial role in increasing the country’s exports and generating employment opportunities, saying that empowering youth and women entrepreneurs would not only help them secure their own livelihoods but would also contribute to creating additional job opportunities.
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