Pakistani pm announces Rs100b start-up loans for young entrepreneurs

Pakistani Prime Minister Imran Khan
Image Credit: PID

Islamabad: Prime Minister Imran Khan announced the launch of Rs100 billion start-up loans for young people to finance their own businesses. It is the largest start-up loan and incentive program for young people in the country with an estimated 60% youth population.

The Prime Minister announced two key initiatives for young people: Rs 100 billion loans for startups and 170,000 skills-based scholarships to finance, support and train young Pakistani entrepreneurs.

“We are offering concessional loans worth Rs 100 billion under the Kamyab Jawan program to help ambitious young people launch their own startups and businesses,” the prime minister said, adding that he ‘was the “biggest incentive ever” in the country’s history, putting aspiring entrepreneurs out of work.

The Prime Minister also announced 170,000 scholarships, of which around 50,000 would be for high-end skills such as the latest technologies, including artificial intelligence and big data.

He urged young people to benefit from the skills-based and high-tech training offered by the government to exploit the immense opportunities in various fields and become self-reliant rather than wait for government jobs. He said that it is the private sector or the small and medium enterprises that can solve the unemployment problem in the country.

10,000 businesses launched

At least 10,000 new businesses have been launched under the government’s youth entrepreneurship program under the Kamyab Jawan program in which more than Rs 8 billion has been invested, said the prime minister’s special assistant. of Youth Affairs, Usman Dar. As many as 37,000 young people have completed their six-month courses in conventional and high-tech commerce in the first phase, while training of another group of 55,000 young people is underway.

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