PM Increases Loan Amount for Youth Program to Rs 1.5 Million
Prime Minister Shehbaz Sharif of Pakistan has directed a significant increase in the loan amount under the Youth Program, raising it from Rs 500,000 to 1.5 million. This decision comes after a review meeting on small and medium-sized businesses held in Islamabad, where the Prime Minister emphasized the importance of supporting entrepreneurs and promoting economic growth through enhanced government assistance.
New Category Introduced for Small Businesses and Women Entrepreneurs
During the meeting, Prime Minister Shehbaz Sharif highlighted the need to align facilities provided to small and medium-sized businesses with international standards. He instructed the implementation of models from developed countries to ensure that businesses in Pakistan have access to the resources they need to thrive. Additionally, the Prime Minister directed the creation of a special package for women entrepreneurs in small-scale businesses, recognizing their valuable contributions to the economy.
Empowering Youth and Women Entrepreneurs
Prime Minister Shehbaz Sharif reiterated the government’s commitment to empowering youth and women entrepreneurs in Pakistan. By increasing the loan amount under the Youth Program and simplifying the application process for SMEs, the government aims to provide more businesses with the support they need to grow and succeed. The Prime Minister emphasized the role of small and medium enterprises in driving economic development and job creation, highlighting the government’s efforts to promote entrepreneurship within the country.
Government Support and Future Plans
The meeting also discussed plans to categorize SMEs to ensure that businesses of all sizes can benefit from government support and facilities. A new category will be introduced for very small-scale businesses and home-based women entrepreneurs, making it easier for them to obtain loans and improve their operations. The Pakistan Bureau of Statistics provided updates on SME indicators and shared plans for a nationwide survey to further improve facilities for SMEs in the coming months.
Prime Minister Shehbaz Sharif’s directives aim to create a more supportive environment for small businesses and women entrepreneurs in Pakistan. By increasing the loan amount under the Youth Program and simplifying the application process, the government is working to ensure that businesses have the resources they need to succeed. Through these initiatives, Prime Minister Shehbaz Sharif hopes to drive economic growth, create job opportunities, and empower entrepreneurs across the country.
