PM Youth Loan Limit Raised to Rs. 25 Million, Age Eligibility Cut to 18

The government has significantly expanded its flagship youth financing programme, raising the maximum loan available under the Prime Minister's Youth Business and Agriculture Loan Schemes from Rs. 7.5 million to Rs. 25 million. The decision was taken during a review meeting chaired by Prime Minister Shehbaz Sharif, who also lowered the minimum eligibility age for applicants from 21 to 18 years.

According to the briefing given at the meeting, applicants must apply online through the scheme's official portal and do not need to submit paper forms. Officials were also instructed to reserve 30 percent of all loans under the programme for women, a step aimed at widening access to finance for female entrepreneurs.

The prime minister directed the Small and Medium Enterprises Development Authority (SMEDA) to provide comprehensive support to young applicants, including business start-up assistance, guidance, consultancy and technical services. These services are intended to help first-time borrowers prepare for business ownership and develop their proposed ventures. He also ordered a nationwide awareness campaign to ensure young people are informed about the schemes.

The meeting was told that 581,341 young people have received loans worth Rs. 313.9 billion since January 2023. Officials described this as a tenfold increase in beneficiaries compared with the previous ten years. They further stated that Rs. 292 billion has been allocated for the 2026-27 period, which is expected to finance loans for approximately 266,700 young people.

Prime Minister Shehbaz Sharif praised Finance Minister Senator Muhammad Aurangzeb and his team for their arrangements to support young people seeking business and agricultural opportunities. The meeting was also attended by Special Assistant to the Prime Minister on Youth Affairs Rana Mashhood Ahmed Khan and Special Assistant on Political Affairs Talha Burki. The expanded limits and lowered age threshold are expected to bring a larger number of young applicants into the formal financing system.