Islamabad: The government has announced an increase in the maximum loan limit for startups and small and medium-sized enterprises under the Prime Minister’s Youth Business and Agriculture Loan Scheme. The move is part of a strategic effort to bolster economic growth and employment.
According to Radio Pakistan, Rana Mashhood Ahmad Khan, Chairman of the Prime Minister’s Youth Programme, revealed at a news conference that the individual loan limit has been raised to 25 million rupees from the previous cap of 7.5 million rupees. This initiative aims to provide greater financial support to young entrepreneurs and small business owners.
In the current financial year, a total of 292 billion rupees has been earmarked for loan disbursement to the youth. The increased funding is expected to create more job opportunities and stimulate business activities across the country. Khan also announced the establishment of facilitation centers nationwide to ensure accessibility of these loans to youth in remote areas.