The government has taken a significant step to empower young individuals by expanding the Prime Minister’s Youth Loan Scheme. With technology playing a pivotal role in education and career development, the inclusion of laptop loans in the program is a game-changer. This initiative aims to ensure that young minds have the tools they need to thrive academically and professionally.
Expansion of Prime Minister’s Youth Loan Scheme
The Special Assistant to the Prime Minister on Youth Affairs, Rana Mashhood Ahmad Khan, recently announced the expansion of the Prime Minister’s Youth Loan Scheme. The State Bank of Pakistan has issued a formal notification confirming the update. Under this enhanced policy, young individuals can now apply for loans not only to start business ventures but also to purchase laptops.
This move reflects the government’s recognition of the growing importance of digital access for education and employment. Providing loans for laptops will bridge the technology gap and empower students to stay competitive in the digital era.
Eligibility Criteria for Laptop Loans
To benefit from the new policy, applicants must meet specific eligibility requirements:
- Age Requirement: Applicants must be between 18 to 30 years old.
- Educational Requirement: Students must be enrolled in institutions approved by the Higher Education Commission (HEC).
This streamlined process ensures that deserving students receive financial assistance to access the technology they need for success.
Loan Opportunities for Overseas Employment
In addition to laptop loans, the government has expanded the scheme to support youth seeking employment abroad. Financial assistance of up to Rs. 1 million is now available for:
- Training Costs: Covering skill development and certification expenses
- Visa Processing: Assistance with visa application fees
- Travel Expenses: Support for international travel to work destinations
This comprehensive financial package underscores the government’s dedication to helping young individuals pursue global opportunities and contribute to the national economy.
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Government’s Commitment to Youth Development
The government remains steadfast in its mission to create maximum opportunities for the youth. According to Rana Mashhood Ahmad Khan, over Rs. 186 billion has been disbursed under the Prime Minister’s Youth Loan Scheme to date. This initiative has already empowered thousands of young entrepreneurs and professionals across the country.
By incorporating laptop loans and overseas employment assistance, the scheme has become even more inclusive and impactful. The government’s efforts are paving the way for a brighter future for the youth, who are the backbone of the nation’s progress.