K-P to promote youth entrepreneurship

Skilled youth to be provided loans from Rs1b fund

PESHAWAR:

In a significant move to foster self-employment opportunities in the province, Khyber-Pakhtunkhwa Chief Minister Sardar Ali Amin Khan Gandapur has announced the launch of the “Youth Entrepreneurship Program.”

This initiative aims to provide soft loans to skilled youth, empowering them to establish their own businesses. The decision was made during the inaugural meeting of the Sports & Youth Affairs Department at the Chief Minister’s House in Peshawar.

Under this flagship program, an initial allocation of Rs1 billion will be designated. Notably, the soft loans will not be disbursed individually but to clusters of skilled youth keen on venturing into entrepreneurship. Each cluster will be eligible for loans ranging from Rs2 million to Rs10 million.

The CM has emphasized the importance of finalizing a comprehensive strategy for the successful implementation of this program. He underscored that the primary objective is to support talented and skilled youth in leveraging their professional expertise towards entrepreneurial endeavors.

Promoting employment opportunities ranks among the top priorities of the provincial government, asserted the chief minister. He reaffirmed the commitment to extending full support to skilled youth across the province in this endeavor.

Additionally, the chief minister approved the launch of the Youth Skill Development and Employment Program. He directed that youth from all districts should have equal access to this program, with quotas allocated based on population size.

The program aims to impart specialized technical and vocational training to an initial cohort of 20,000 youth. It will also facilitate their placement in domestic and international job markets. Furthermore, initiatives under the Youth Education Program, including scholarships in IT, technical, and digital sectors, as well as the establishment of Incubation Centers and E-Learning facilities, were endorsed.

The chief minister stressed the importance of merit-based internships in market-driven disciplines and instructed the formulation of a comprehensive policy for this purpose. He also underscored the need for developing sports infrastructure, promoting traditional games, and ensuring the completion of ongoing projects such as the Arbab Niaz Cricket Stadium in Peshawar.

Furthermore, directives were issued to organize the Horse and Cattle Show in Peshawar and to expedite the provision of necessary facilities for traditional sports like tent pegging, archery, and horse riding. The Chief Minister emphasized the rich sporting talent in Khyber-Pakhtunkhwa and urged effective branding and promotion of this talent.

Published in The Express Tribune May 4^th, 2024.