ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday directed the authorities concerned to make all-out efforts to achieve the Rs 30 billion loan target under the Prime Minister Youth Loan Scheme by end of June this year.

The prime minister, who chaired a review meeting on the PM Youth Loan Scheme, instructed to resolve all operational issues regarding the scheme on priority.

He said the government was taking remarkable steps for promotion of entrepreneurship and employment among the youth. Besides, the provision of easy loans to the youth was also being ensured. He said the youth were an asset for Pakistan and the country’s progress was linked with their welfare.

The prime minister also set up a steering committee under him to examine the performance and pace of the youth loan scheme. The finance minister would also be part of the committee.

PM’s youth loan scheme relaunched

He said the Pakistani youths had immense potential with high morale and if provided with resources, they could change the country’s fate.

He said the collaborative work of the public and private sectors was essential to cope with the prevailing challenges.

The meeting was told that starting from 2013, around 54,000 youth had been extended loan facility worth Rs 73.55 billion. A portal for the youth loan scheme was also launched on January 24, 2023.

Under the scheme, people from 18 to 45 years of age can get easy loans within 45 days. About 25 percent quota has been allocated for women.

The heads of participating banks and microfinancing institutions ensured to achieve the loan targets within the timeframe.

The prime minister also formed a committee to address the operational issues regarding the loan scheme.