PR No. 114 State Bank of Pakistan and Prime Minister’s Youth Programme Deliberated

In a meeting held between the State Bank of Pakistan, Chairman of the Prime Minister's Youth Programme, Rana Mashhood Ahmed Khan, Banks and other Microfinancing Institutes (MFIs), discussions centered around fortifying the framework of the Tier 1 of Prime Minister's Youth Business Loan Scheme. The aim is to broaden its scope and implement structural adjustments to better serve the youth of Pakistan. The Prime Minister's Youth Business Loan Scheme, a flagship initiative, offers non-collateralized loans of up to 0.5 million in its Tier 1 with 1.5 million to 7.5 million rupee loans in tier 2 and tier 3 respectively to empower the youth of Pakistan in realizing their entrepreneurial aspirations. The collaborative efforts seek to streamline processes, enhance accessibility, and ensure the effectiveness of the scheme in fostering economic empowerment among the youth demographic. During the meeting, Chairman Rana Mashood Ahmed Khan reaffirmed the government's unwavering commitment to facilitating easier access to loans for the youth of Pakistan. He emphasized the government's vision of nurturing success stories of glory and achievement, envisioning every Pakistani youth as a beacon of prosperity and innovation. The proposed enhancements aim to create a more conducive environment for youth entrepreneurship, fostering economic growth, job creation, and innovation across various sectors. By leveraging the collaborative expertise of stakeholders, the initiative strives to catalyze socio-economic development and unleash the full potential of Pakistan's youthful population.

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