PM hikes youth loan ceiling to Rs25m

Prime Minister Shehbaz Sharif. — APP/File

ISLAMABAD / LAHORE: Prime Minister Shehbaz Sharif on Sunday raised the maximum loan limit under the Prime Minister’s Youth Business and Agriculture Loan Schemes from Rs7.5 million to Rs25 million, reduced the minimum eligibility age from 21 to 18 years and directed that 30 per cent of loans be reserved for women to promote youth entrepreneurship and economic empowerment.

Chairing a review meeting on the schemes, he directed the relevant authorities to facilitate young people in establishing businesses and undertaking agricultural activities by providing them with financial assistance, professional guidance and technical support.

He said the government was committed to empowering the country’s youth, harnessing their potential and creating decent and productive employment opportunities for them, describing young people as a valuable national asset.

The meeting reviewed provision of loans under the Prime Minister’s Youth Business Loan Scheme and implementation of the broader business and agriculture financing programme.

Shehbaz Sharif directed that the increased loan facility of up to Rs25 million be provided in easy instalments, enabling young entrepreneurs to establish and expand businesses and participate in agricultural activities.

To encourage women’s economic participation, he ordered that 30 per cent of the loans under the programme be allocated to women, enabling them to become financially independent and expand their involvement in business activities. He also directed the Small and Medium Enterprises Development Authority (Smeda) to extend all possible assistance to young applicants, including support for business start-ups, guidance, business consultancy and technical services.

The prime minister further instructed the authorities concerned to launch a nationwide awareness campaign to inform the young people about the loan schemes, available business opportunities and other government initiatives so that the maximum number of eligible applicants could benefit.

According to a briefing given at the meeting, 581,341 young people had received loans worth Rs313.9 billion since January 2023, representing a tenfold increase compared with the number of beneficiaries during the preceding ten years. Also, Rs292 billion had been allocated for 2026-27 to provide loans to approximately 266,700 young people under the schemes.

The prime minister appreciated the efforts of Finance Minister Senator Muhammad Aurangzeb and his team for making effective arrangements to extend financial support to young people seeking opportunities in business and agriculture.

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, PM Shehbaz Sharif visited Jati Umra in Lahore on Sunday and held a meeting with Pakistan Muslim League Nawaz (PMLN) President Nawaz Sharif to discuss the country’s political situation, national affairs and economic challenges.

During the meeting, the prime minister took Nawaz Sharif into confidence on the law & order situation in Khyber Pakhtunkhwa and briefed him on recent measures being undertaken for the province’s development and prosperity.

He also apprised the PMLN president of the government’s ongoing reforms, particularly economic reforms, the challenges confronting the country and measures being taken to address them. The two leaders held detailed consultations on national political developments and initiatives aimed at improving the country’s economic situation.

Deputy Prime Minister/Foreign Minister Senator Ishaq Dar and Punjab Chief Minister Maryam Nawaz Sharif also attended the meeting.

Earlier, Federal Minister for Defence Production Raza Hayat Harraj called on Prime Minister Shehbaz Sharif in Lahore. They discussed matters of mutual interest and the country’s political and economic situation.

Meanwhile, the prime minister announced the launch of a year-long programme of national and international celebrations marking the 149th birth anniversary of national poet Allama Muhammad Iqbal, beginning on November 9, 2026, and culminating on November 9, 2027.

In his message on the Iqbal Day, Shehbaz Sharif said the comprehensive programme would include international conferences, academic and research seminars, literary festivals, exhibitions, educational competitions and cultural activities to preserve and transmit the Poet of the East’s intellectual legacy to future generations.

Paying tribute to Allama Iqbal, he said the great philosopher and poet had awakened political consciousness among the Muslims of the Subcontinent, inspiring them to recognise and assert their distinct national identity. This consciousness had played a pivotal role in their historic struggle for the creation of an independent homeland.

Describing Iqbal as a philosopher of exceptional intellectual stature and profound wisdom, the prime minister said his enduring thought continued to broaden intellectual horizons and contribute to the intellectual development of young people and future generations. He said Iqbal’s exploration of the intellectual dimensions of Islamic teachings continued to provide meaningful and practical guidance to Muslims in their individual and collective lives.

Shehbaz Sharif said the government was committed to making Iqbal’s philosophy an integral part of educational institutions, national discourse and development priorities, adding that intellectual awakening, character-building and collective renewal must remain essential national objectives.

Highlighting Iqbal’s concept of Khudi (selfhood), he said individuals and nations could transform their destinies through self-realisation, purposeful endeavour and spiritual emancipation.

He added that Iqbal had placed immense confidence in the youth, whom he regarded as architects of the nation’s future. His concept of Shaheen (falcon) symbolised courage, independence, lofty aspirations and an unwavering pursuit of excellence.

The prime minister observed that Iqbal’s philosophy upheld peace, social harmony, tolerance and justice as indispensable pillars of sustainable national development while rejecting hatred, extremism, sectarianism and discrimination.

He said Iqbal’s message of Muslim unity, universal brotherhood and peaceful coexistence remained profoundly relevant internationally. Guided by his vision, Pakistan would continue to promote unity and solidarity among the Muslim Ummah and support the peaceful resolution of international disputes. He called for renewed efforts to deepen understanding of Iqbal’s message, promote rigorous scholarly research into his philosophy, encourage creative thinking and strengthen national character.

Separately, PM Shehbaz Sharif extended warm felicitations to Azerbaijani President Ilham Aliyev and the people of Azerbaijan on the sixth anniversary of their Victory Day, observed on November 8. In a message posted on X, he said November 8 stood as a historic testament to the courage, resolve and sacrifices of the Azerbaijani nation, which had restored its territorial integrity after nearly three decades. He paid heartfelt tribute to the martyrs whose sacrifices had made the victory possible.

“Pakistan was proud to stand with Azerbaijan then, and we stand with Azerbaijan always,” he said, recalling that he had joined President Aliyev at last year’s Victory Day parade in Baku which, he added, had reflected the unbreakable bond between the two countries.

The prime minister expressed the hope that Azerbaijan would continue to progress and that the South Caucasus region would move towards lasting peace and shared prosperity.

In another message, Shehbaz Sharif expressed deep sorrow over a tragic shooting incident in Kraków, Poland, which resulted in the loss of precious human lives and left several people injured. On behalf of the government and people of Pakistan, as well as in his personal capacity, he extended condolences to Polish Prime Minister Donald Tusk, the bereaved families and the people of Poland.

The prime minister reaffirmed Pakistan’s solidarity with the people and government of Poland during what he described as a moment of profound grief.