PM directs to increase loan under Youth Program to Rs1.5mn

Islamabad: Prime Minister Shehbaz Sharif has directed to increase the loan amount under the Youth Program to Rs1.5 million.

A review meeting was held under the chairmanship of Prime Minister Shehbaz Sharif on the issues of small and medium-sized enterprises (SMEs), in which the progress of government measures for the development and facilitation of SMEs in the light of the Prime Minister’s special instructions was informed.

During the meeting, the Prime Minister directed to increase in the loan amount under the Prime Minister’s Youth Program for small-scale businesses from Rs0.5 million to Rs1.5 million, also ordering to complete a detailed survey of them to provide facilities to SMEs soon.

Shehbaz Sharif directed that the application of models of developed countries should be ensured to harmonize the facilities provided to SMEs with international requirements, and a special package for women entrepreneurs in small-scale businesses should be formulated and presented soon.

He said that Pakistan is committed to facilitating SMEs to encourage entrepreneurship among its workforce. SMEs play a key role in the development of the economy worldwide.

The Premier stated that the government's top priority is to promote SMEs so that the country's exports increase. The government is striving to empower youth and women entrepreneurs so that they can not only earn their livelihoods but also create more employment opportunities.