PM wants Rs30b youth loan target achieved

Prime Minister Shehbaz Sharif on Thursday directed the authorities concerned to make all-out efforts to achieve the Rs30 billion loan target under the Prime Minister Youth Loan Scheme by end of June this year.

The prime minister, who chaired a review meeting on the PM Youth Loan Scheme, instructed to resolve all operational issues regarding the scheme on priority.

The meeting was told that starting from 2013, around 54,000 youth had been extended loan facility worth Rs 73.55 billion.

A portal for the youth loan scheme was also launched on January 24, 2023.Under the scheme, people from 18 to 45 years of age can get easy loans within 45 days.

About 25 percent quota has been allocated for women. The heads of participating banks and microfinancing institutions ensured to achieve the loan targets within the timeframe.

The prime minister also formed a committee to address the operational issues regarding the loan scheme.