Islamabad:Chairman of the Prime Minister Youth Programme (PMYP) Rana Mashhood Ahmed Khan on Thursday emphasized the significant role of the PMYP Loan Scheme in fostering economic growth by empowering the youth.
Talking to reporter, he said that as many as Rs 13.116 billion had been distributed among 21,294 entrepreneurial youth in the last three months from August to October under the Prime Minister’s Youth Business and Agriculture Loan Scheme.
‘Empowering youth is key to driving economic development and ensuring a prosperous future for our nation,” he said and added that under this program, interest-free loans of Rs 0.5 million were being provided to youth under Tier One programme, while loans of Rs 0.5 mln to Rs 1.5 mln under Tier 2 at 5 per cent interest rate and loans of Rs 1.5 mln to Rs 7.5 mln were being given to youth under Tier 3 at 7 per cent interest rate through 15 different banks.
This program aimed to empower youth as well as promote business activities in the country, he said and added, “The
Prime Minister’s Youth Programme remains dedicated to fostering youth development through various initiatives and will continue to work closely with key stakeholders to ensure the success and sustainability of these efforts.”