Prime Minister Shehbaz Sharif has increased the maximum personal loan limit under the Youth Business and Agriculture Loan Schemes from Rs7.5 million to Rs25 million. The government has also reduced the minimum eligibility age from 21 to 18 years, allowing more young people to apply for financial assistance to establish businesses and pursue opportunities in agriculture.
The decisions were announced during a meeting chaired by the prime minister on Sunday to review the progress and implementation of the youth loan schemes. Shehbaz directed the relevant authorities to provide loans through easy instalments and ensure that young entrepreneurs receive adequate support to establish and expand their businesses.
The prime minister also ordered that 30 per cent of the total loans be reserved for women to encourage their participation in economic activities and support their financial independence. He emphasised the need to create more opportunities for young people and increase their involvement in the agricultural sector.
Shehbaz appreciated the efforts of Finance Minister Muhammad Aurangzeb and his team in advancing the initiatives. He also directed the Small and Medium Enterprises Development Authority (SMEDA) to provide comprehensive assistance to applicants. The support will include business guidance, consultancy services and technical assistance to help young entrepreneurs plan and establish their ventures.
Officials informed the meeting that 581,341 young people had received loans worth approximately Rs313.9 billion since January 2023. For the fiscal year 2026-27, the government has allocated Rs292 billion to provide financial assistance to an estimated 266,700 beneficiaries under the schemes.
The meeting was attended by Finance Minister Muhammad Aurangzeb, Special Assistant to the Prime Minister on Youth Affairs Rana Mashhood Ahmed Khan and Special Assistant to the Prime Minister on Political Affairs Talha Burki.
Separately, Federal Minister for Defence Production Raza Hayat Harraj met Prime Minister Shehbaz Sharif on Sunday. They discussed matters of mutual interest and exchanged views on Pakistan’s political and economic situation.
In another development, the prime minister expressed sorrow over a shooting incident in Krakow, Poland, that claimed several lives and left others injured. Shehbaz conveyed his condolences to the victims’ families and expressed solidarity with the people and government of Poland.
