The Prime Minister’s Youth Scheme will now also offer financial assistance to individuals seeking jobs abroad. As per reports, loans of up to one million rupees can be availed by those who want to settle in a foreign country.

 

The loan amount will be disbursed to cover essential costs, which include travel expenses, training and visa fees. Chairman of the Prime Minister Youth Programme, Rana Mashhood Ahmad Khan, outlined the importance of this initiative.

 

Rana stated that this program would equip young Pakistanis with better economic opportunities and enable them to secure international employment contracts. According to him, this effort aligns with Islamabad’s broader goal of ensuring financial stability for the youth – which could be made possible by expanding their employment opportunities.

 

Rana also revealed that the prime minister’s Youth Loan Scheme has already disbursed a staggering 186 billion rupees, reflecting the scheme’s growing popularity. He further commented on the loan amount, portraying the confidence young individuals have in the scheme.

 

Analysts believe this expansion could further strengthen the initiative’s impact, as additional financial support could help job seekers transition from the domestic labour market to the international one.

 

Moreover, the State Bank of Pakistan (SBP) recently announced an extension of the youth loan scheme. These benefits will expand the scope of SBP’s scheme beyond its current objective of just providing business loans.

 

As per reports, young individuals will now also be eligible for laptop financing, enabling them to enhance their education and professional skill set. This decision is part of Islamabad’s strategy to improve access to digital tools and empower students with technology.

 

Rana stated that students in the age range of 18 to 30 who are currently enrolled in Higher Education Commission-approved institutions can now apply for laptop loans. This measure could assist financially constrained students. Further reforms are also in the works as Islamabad prepares to expand the scheme’s reach and effectiveness.

 

If implemented successfully, this initiative could significantly stabilise Pakistan’s economy. By facilitating youth employment abroad, the cash-strapped country stands to benefit from a higher inflow of remittances, which have historically remained a key pillar of Pakistan’s economy.

 

Highly skilled professionals returning to Pakistan after gaining international experience could help mitigate the ‘brain drain’ problem analysts claim Pakistan is the victim of. However, if individuals choose not to return to the country, a downward pressure could be noted on the unemployment rate.