For the youth of Pakistan, Mr. Shehbaz Sharif announces a Business & Agriculture loan scheme of up to 7.5 million with easy payback. It also encourages women, transgender people, and people with disabilities to apply and contribute to the nation’s growth.
It is intended that the loan schemes will encourage the youth to be self-employed and become entrepreneurs. In these schemes, individuals aged 21 to 45 years can avail of a loan facility of up to Rs7.5 million that can be used to meet their financial needs. As far as IT and E-commerce businesses are concerned, the minimum age limit is 18.
Microfinance will play a key role through small business loans to increase the number of jobs created among the young bulge in the country. Rural youth will be able to bring innovation to farming through the addition of agricultural loans, such as mechanized farming, the development of agricultural value chains, and the solarization of farming equipment to create a more sustainable energy resource management system in Pakistan, which is a climate-challenged country. Women have been assigned a 25% quota in the program. It is also possible to avail of Islamic banking facilities as part of the loan scheme.
The scheme has three loan tiers, so everyone can easily apply according to their requirement. The tiers are stated as: