Shehbaz orders youth loans from age 18 with 30% set aside for women
The government has set a target of 266,700 youth loans worth Rs292 billion for the 2026-27 fiscal year, officials said.
Prime Minister Shehbaz Sharif on Monday directed that the minimum age for youth loans be lowered from 21 to 18 and that 30 percent of loans be reserved for women, Dunya News reported.
The directions came at a meeting chaired by the prime minister that reviewed the provision and implementation of loans under both youth schemes.
A briefing at the meeting said 581,341 young people have received loans since January 2023, which is 10 times more than in the previous 10 years.
The briefing said a total of Rs313.9 billion in loans has been disbursed during this period.
For the 2026-27 fiscal year, the briefing estimated that 266,700 young people would receive loans worth Rs292 billion.
The prime minister directed the Small and Medium Enterprises Development Authority (SMEDA) to provide every possible facility to young people, including support for starting businesses, guidance, consultation and technical assistance.
He also ordered the relevant authorities to run a nationwide awareness campaign so that more young people can benefit from the schemes.
Sharif said young people are Pakistan's valuable asset and that the government is committed to empowering them and creating dignified, productive employment opportunities.
Finance Minister Senator Muhammad Aurangzeb, Special Assistant for Youth Affairs Rana Mashhood Ahmad Khan and Special Assistant for Political Affairs Talal Burki attended the meeting.
The youth loan schemes are designed to give young people access to credit so they can start their own enterprises, rather than depend only on formal jobs.
