Connect with us

Hi, what are you looking for?


step-by-step guidelines to apply for PM’s youth business and agriculture loan

Prime Minister Shehbaz Sharif announced the Young Business and Agricultural Loan Schemes on Tuesday in Islamabad, with the goal of fostering young entrepreneurship and self-employment.

Individuals between the ages of 21 and 45 are eligible for the lending facility under the programmes.

IT and e-commerce enterprises must have a minimum age of 18 years old.

PM Stated:

Loan  “schemes are aimed at making the youth self-reliant”.

Here are the step-by-step instructions for applying for the loans:

Including agricultural loans will help rural youth bring innovation to farming, such as mechanised farming, the development of agricultural value chains, and the solarization of farming equipment, in order to create more sustainable energy resource management in a country like Pakistan with a challenging climate.

Small business microfinance loans would stimulate employment creation rather than job searching among the nation’s youth bulge.

You may also employ Islamic banking services on the loan programme.

A quota of 25% is made aside for women.

The prime minister further indicated that loans of up to Rs. 1.5 million can be secured under the programmes with the borrower’s personal guarantee.

PM Said:

“There will be no interest rate on the loan of up to Rs0.5 million. 5% interest will be charged on the loan of over Rs0.5 million to 1.5 million,”

He Continued:

“7% interest rate will be charged on the loan of over Rs1.5 million to Rs7.5 million.”

State Bank of Pakistan (SBP) Governor Jameel Ahmad stated on the occasion that:

“special instructions had been issued to the banks for issuing loans to the youth”.

The major goal of the government and the central bank, he continued, is to offer loans to the agricultural business.

Farmers in flood-affected areas will receive assistance, according to the governor of SBP. “The maximum amount of agricultural loans has been increased by 44%.”

He requested that all institutions actively engage in the youth loan scheme.

Pavan Manzoor
Written By

Pavan Manzoor is an experienced content writer , editor and social media handler along with a track record of youth-oriented activities in Pakistan and abroad. She was selected as a fully-funded delegate as a leadership fellow in Turkey. She also led a team of 5 volunteers at the week-long Young Professionals Fellowship in Maldives. She is also a member of the Youth Standing Committee on Higher Education.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


ISLAMABAD: Mufti Saeed said that he solemnised twice Nikkah of Imran Khan with Bushra Bibi. Mufti Saeed, who is a member of PTI’s core committee,...


Dollar reaches all-time high in the interbank where it is being traded at Rs255. The rupee plummet a further and lowest so far in...


Honda jacks up prices citing uncertain economic conditions: Honda Atlas Cars Ltd. (HACL) raised the prices of several models by Rs300,000 to Rs550,000 effective...


The mother of well-known Bollywood actor Nawazuddin Siddiqui filed an FIR against her Daughter-in-law over a property dispute. According to ANI, an Indian news...