LAHORE: Prime Minister Shehbaz Sharif raised the individual borrowing limit under the Youth Business and Agriculture Loan Scheme from Rs7.5 million to Rs25 million and lowered the minimum age for applicants from 21 to 18.
Chairing a meeting on Sunday to review progress on the youth business and agriculture loan schemes, the prime minister directed that loans be offered with easy repayment instalments.
The Prime Minister’s Office said Rs292 billion had been allocated for youth loans in the current fiscal year. Sharif directed that 30% of the loans be reserved for women to help them become financially independent and expand their participation in business.
He also directed the Small and Medium Enterprises Development Authority (SMEDA) to provide guidance, advice and technical support to young people starting businesses.
Officials told the meeting that approximately Rs313.9 billion in loans had been disbursed to 581,341 young people since January 2023. They projected that Rs292 billion would be disbursed to 266,700 borrowers in fiscal year 2026–27.
Finance Minister Muhammad Aurangzeb, Special Assistant to the Prime Minister on Youth Affairs Rana Mashhood Ahmad Khan, and Special Assistant to the Prime Minister on Political Affairs Talha Burki attended the meeting.
