PM loan scheme distributes Rs83.6 billion

Chairman of the Prime Minister Youth’s Programme(PMYP) Rana Mashhood has underscored the success of the Prime Minister’s (PM)Youth Business Loan Scheme under which Rs 83.6 billion has been disbursed to young entrepreneurs, including 16,000 female entrepreneurs, since its relaunch by Prime Minister Mian Muhammad Shehbaz Sharif on January 24, 2023.
While inaugurating the launching report of the “State of Youth Entrepreneurship Ecosystem in Pakistan “at a local hotel on Monday, he said that the scheme has provided loans to 140,000 youths, including those engaged in agriculture, microfinance, and interest-free ventures enabling them to turn their innovative ideas into thriving businesses.
In his keynote, the Chairman PMYP commended the collaborative efforts behind the report and emphasized the government’s unwavering commitment to supporting youth entrepreneurship in Pakistan. He also highlighted the transformative initiatives undertaken by the Prime Minister’s Youth Programme to promote entrepreneurship across Pakistan. “The Prime Minister’s Youth Programme remains committed to empowering the next generation of entrepreneurs, and we call upon our development partners and the private sector to join us in implementing the recommendations outlined in the report.”
Additionally, Rana Mashood Ahmed Khan emphasized the impact of the National Innovation Award, which provides financial support, mentorship, and incubation resources to help young entrepreneurs realize their full potential and foster a culture of innovation and creativity in Pakistan. “I am delighted to witness the launch of the ‘State of Youth Entrepreneurship Ecosystem in Pakistan’ report, which provides invaluable insights into the challenges and opportunities facing young entrepreneurs in our country,” he added.
The Commonwealth Secretariat, in collaboration with UNDP Pakistan and the Islamic Development Bank, launched the highly anticipated report titled “State of Youth Entrepreneurship Ecosystem in Pakistan. “This groundbreaking report provides valuable insights into the current landscape of youth entrepreneurship in Pakistan and offers strategic recommendations to foster a dynamic and inclusive ecosystem for young entrepreneurs.
The launch event brought together government officials, development partners, and representatives from the private sector, and aspiring young entrepreneurs to discuss strategies for enhancing the entrepreneurship ecosystem in Pakistan and driving sustainable economic growth. “State of Youth Entrepreneurship Ecosystem in Pakistan” report serves as a roadmap for policymakers, development agencies, and stakeholders to design targeted interventions that support youth entrepreneurship and contribute to economic development in Pakistan.