Prime Minister’s Youth Loan Scheme Empowers Young Entrepreneurs with Rs 83.6 Billion

The launch event, held in Islamabad, saw Chairman Rana Mashood Ahmed Khan highlighting the government’s commitment to supporting youth entrepreneurship.

Islamabad – The Prime Minister’s Office, through its Youth Affairs Wing, celebrates a monumental milestone in youth empowerment with the distribution of Rs 83.6 billion under the Prime Minister’s Youth Loan Scheme. This achievement was announced by Chairman Rana Mashood Ahmed Khan at the launch of the report titled “State of Youth Entrepreneurship Ecosystem in Pakistan,” jointly organized by the Commonwealth Secretariat, UNDP Pakistan, and the Islamic Development Bank.

The launch event, held in Islamabad, saw Chairman Rana Mashood Ahmed Khan highlighting the government’s commitment to supporting youth entrepreneurship. He lauded the collaborative efforts that culminated in the insightful report, which sheds light on the current landscape of youth entrepreneurship in Pakistan and proposes strategic recommendations for fostering a vibrant and inclusive ecosystem for young entrepreneurs.

Chairman Rana Mashood Ahmed Khan underscored the success of the Prime Minister’s Youth Business Loan Scheme, which has empowered 140,000 youths, including 16,000 female entrepreneurs, since its relaunch in January 2023. The scheme, championed by Prime Minister Mian Muhammad Shebaz Sharif, has facilitated young entrepreneurs across various sectors, including agriculture, microfinance, and interest-free ventures, enabling them to translate their innovative ideas into successful businesses.

Additionally, Chairman Rana Mashood Ahmed Khan highlighted the profound impact of the National Innovation Award, which offers financial assistance, mentorship, and incubation resources to nurture the potential of young entrepreneurs and foster a culture of innovation in Pakistan.

Expressing his delight at the launch of the “State of Youth Entrepreneurship Ecosystem in Pakistan” report, Chairman Rana Mashood Ahmed Khan reaffirmed the Prime Minister’s Youth Programme’s commitment to empowering the next generation of entrepreneurs. He called upon development partners and the private sector to collaborate in implementing the report’s recommendations to further enhance the entrepreneurship ecosystem in Pakistan.

Read more: PML-N considers making Rana Sanaullah interior adviser

The launch event served as a platform for government officials, development partners, private sector representatives, and aspiring young entrepreneurs to engage in discussions aimed at strengthening the entrepreneurship landscape and driving sustainable economic growth in Pakistan.

The “State of Youth Entrepreneurship Ecosystem in Pakistan” report stands as a comprehensive roadmap for policymakers, development agencies, and stakeholders to design targeted interventions that support youth entrepreneurship and contribute to the economic prosperity of Pakistan.