ISLAMABAD, Mar 03 :In a significant boost to empower youth and entrepreneurship, the Prime Minister’s Youth Program has distributed a staggering 209 billion rupees to 31,700 young business owners through the Prime Minister Youth Business and Agriculture Loan Scheme over the past eight months.
This initiative aims to equip young individuals with the necessary resources to establish and grow their businesses, ultimately leading to gainful employment and economic growth.
According to an official data, about 209 billion rupees have been distributed among young entrepreneurs. Under this program, youth are being provided an interest-free loan of 5 lakh rupees under tier one, while under tier 2, interest rate of 5 percent on 5 lakh rupees to 15 lakh rupees is being provided and under Tier 3, loans from Rs 15 lakh to Rs 75 lakh are being provided to the youth at 7% interest rate.
Loan facility is being provided to the youth through different 15 banks and aspiring young entrepreneurs can now easily access the Prime Minister’s Youth Program benefits with a hassle-free online application process.
This milestone achievement demonstrates the government’s commitment to fostering a supportive ecosystem for young entrepreneurs, enabling them to contribute to the country’s economic development and prosperity.
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