ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday increased the limit of the government’s loans for youth for business and agriculture activities from Rs7.5 million [$27,109] to Rs25 million [$90,364], the Prime Minister’s Office (PMO) said.

Pakistan’s government issues loans to the youth every year to ensure young partake in business and agricultural activities. Agriculture accounts for over 20 percent of Pakistan’s gross domestic product (GDP) and employs a large number of the country’s workforce.

Sharif chaired a review meeting to discuss the provision of loans to young people and the implementation of the Prime Minister’s Youth Business Loan Scheme and Prime Minister’s Youth Agriculture Loan Scheme, his office said.

“The prime minister increased the maximum individual loan limit under the Youth Business and Agriculture Loan Schemes from Rs7.5 million (approximately $27,109) to Rs25 million (approximately $90,364),” the PMO said. “The loans will be provided through easy instalments.”

The prime minister was informed that a loan of Rs292 billion [$1.055 billion] has been allocated this year to provide loans to young people under these schemes.

The meeting discussed various measures to empower young people, create business opportunities for them, and increase their participation in the agricultural sector.

“The prime minister directed that 30 percent of the loans under the program be reserved for women to promote their economic independence and provide them with greater opportunities to participate in business activities,” the PMO said.

He also directed that the minimum eligible age for obtaining loans be reduced from 21 to 18 years, enabling young people to start businesses and participate in agricultural activities at an earlier age.

The Prime Minister instructed the Small and Medium Enterprises Development Authority (SMEDA) to provide all possible assistance to young applicants under the scheme, including support in starting businesses, guidance, business consultancy and technical assistance, the statement added.

Officials further informed the premier that 581,341 young people received loans since January 2023, which is 10 times higher than the number of beneficiaries over the preceding ten years. Loans worth Rs313.9 billion ($1.135 billion) have been disbursed during this period.

During the fiscal year 2026–27, an estimated 266,700 young people are expected to receive loans amounting to Rs292 billion ($1.055 billion).