The federal government has increased the maximum loan limit under the Prime Minister’s Youth Business and Agriculture Loan Schemes from Rs. 7.5 million to Rs. 25 million, expanding financing opportunities for young entrepreneurs and farmers.

The minimum age for applicants has also been reduced from 21 to 18 years, allowing more young Pakistanis to apply for financing.

Prime Minister Shehbaz Sharif announced the changes while chairing a review meeting on the schemes. He also directed officials to reserve 30 percent of the total loans for women.

Rs. 292 Billion Allocated for Youth Loans

Officials informed the meeting that loans under the revised limits would be provided through easy installment plans. The government has allocated Rs. 292 billion for the schemes during the current year.

The prime minister directed the Small and Medium Enterprises Development Authority (SMEDA) to provide young applicants with assistance in starting businesses, including mentorship, advisory services and technical support.

He also called for a nationwide awareness campaign to inform young people about the financing opportunities available under the schemes.

Over 581,000 Young People Receive Loans

According to the briefing, 581,341 young people have received loans worth Rs. 313.9 billion since January 2023.

The number of beneficiaries is reportedly ten times higher than the total recorded during the preceding decade.

For 2026-27, the government expects to extend Rs. 292 billion in financing to approximately 266,700 young people.

Shehbaz Sharif appreciated Finance Minister Muhammad Aurangzeb and his team for arranging financing for young entrepreneurs and farmers.

He said young people were an important national asset and stressed the need to provide them with opportunities for productive employment and entrepreneurship.

Finance Minister Muhammad Aurangzeb, Special Assistant to the Prime Minister on Youth Affairs Rana Mashhood Ahmad Khan and Special Assistant on Political Affairs Talha Burki also attended the meeting.