ISLAMABAD – Prime Minister Shehbaz Sharif has approved major changes to the Prime Minister’s Youth Business and Agriculture Loan Schemes, increasing the maximum loan limit from Rs7.5 million to Rs25 million and reducing the minimum eligibility age from 21 to 18 years.
Under the revised scheme, 30 per cent of the loans will be reserved for women to encourage their participation in business and agricultural activities and promote their financial independence.
The decisions were taken during a review meeting of the Prime Minister’s Youth Business and Agriculture Loan Schemes, chaired by Prime Minister Shehbaz Sharif. The meeting reviewed the provision of loans to young people and progress on the implementation of the programmes.
The prime minister was informed that the maximum loan limit had been increased to Rs25 million from Rs7.5 million. The loans will be provided through easy instalments, while a total of Rs292 billion has been allocated for lending to young people under the schemes during the current financial year.
Shehbaz Sharif appreciated the efforts of Finance Minister Senator Muhammad Aurangzeb and his team in establishing effective financial support mechanisms for young entrepreneurs and those interested in agricultural activities.
The meeting also discussed various measures to empower young people, create business opportunities and increase their participation in the agriculture sector.
The prime minister directed the authorities to allocate 30 per cent of the loans for women, saying the initiative would help promote their economic independence and encourage their involvement in business activities.
He also ordered a reduction in the minimum age requirement for applicants from 21 to 18 years, enabling young people to start businesses and participate in agricultural activities at an earlier age.
The Small and Medium Enterprises Development Authority (SMEDA) was directed to provide comprehensive support to young entrepreneurs, including assistance in setting up businesses, guidance, business consultancy and technical support.
The prime minister further instructed the relevant authorities to launch a nationwide awareness campaign to inform young people about the loan schemes, available opportunities and government initiatives so that more applicants could benefit from the programmes.
He said young people were a valuable asset for Pakistan and reaffirmed the government’s commitment to empowering them, utilising their potential and providing them with dignified and productive employment opportunities.
During the briefing, the prime minister was informed that 581,341 young people had received loans under the schemes since January 2023, a figure described as 10 times higher than the number of beneficiaries over the preceding decade.
The total amount of loans disbursed during this period has reached Rs313.9 billion.
For the fiscal year 2026-27, the government estimates that loans worth Rs292 billion will be provided to 266,700 young people.
Federal Finance Minister Senator Muhammad Aurangzeb, Special Assistant to the Prime Minister on Youth Affairs Rana Mashhood Ahmed Khan and Special Assistant to the Prime Minister on Political Affairs Talha Barki also attended the meeting.
