ISLAMABAD: Pakistan’s government has disbursed Rs251.25 billion [$890 million] in loans among 434,000 young entrepreneurs since 2013, state-run media reported on Sunday, saying the initiative aimed to boost the country’s economic prospects.
The Prime Minister’s Youth Programme’s (PMYP) scheme collaborated with 15 different banks across the country. As per this scheme, the government provides interest-free microfinance loans and low-interest loans to aspiring entrepreneurs.
“In a major step to empower youth, the Prime Minister’s Youth Programme (PMYP) has disbursed a staggering Rs 251.25 billion to over 434,000 young entrepreneurs since 2013, catapulting a new generation of Pakistanis into the forefront of the country’s economic landscape,” the state-run Associated Press of Pakistan (APP) reported.
The report said that the scheme has provided young Pakistanis a chance to become “successful entrepreneurs” and contribute to the country’s economic growth.
In March this year, Prime Minister Shehbaz Sharif launched the “Digital Youth Hub” portal in Islamabad. The initiative connects young people to jobs, education and enhances skills development in the country.
