PM sets target of Rs30bn in youth loans by June
Pakistan
PM sets target of Rs30bn in youth loans by June
ISLAMABAD (Dunya News) - Prime Minister Shehbaz Sharif on Thursday directed the authorities concerned to make all-out efforts to achieve Rs30 billion loan target under the Prime Minister Youth Loan Scheme by the end of June this year.
The prime minister in a meeting to review the PM Youth Loan Scheme, instructed staff to resolve all operational issues regarding the loan scheme on a priority basis. said that the government was taking remarkable steps for the promotion of entrepreneurship and employment among youth.
He said the Pakistani youths were rich with immense potential and high morale, and if provided with resources, they could change the country’s fate.
He said that the collaborative work of the public and private sectors was essential to cope with the prevailing challenges.
The meeting was told that starting from 2013, around 54,000 youths had been extended loan facilities worth Rs73.55 billion. A portal for a youth loan scheme was also launched on January 24, 2023.
Under the scheme, people from 18 to 45 years of age can get easy loans within 45 days. While 25 percent quota has been allocated to women.
The heads of participating banks and microfinance institutions ensured that they achieved the loan targets within the timeframe.
The prime minister also formed a committee to address the operational issues regarding the loan scheme.
The committee would comprise State Minister for Finance Ayesha Ghaus Pasha, SAPM Shiza Fatima, federal secretaries for information and poverty alleviation, the founder of the Akhuwat Foundation, state bank governor presidents of the National Rural Support Program, the Bank of Punjab, Habib Bank Limited, Zarai Taraqqiati Bank, and Bank Al Falah.
The meeting was attended by SAPM's director of youth affairs, Shiza Fatima, and heads and representatives of banks and microfinance institutions.
