Govt encouraging youth businesses

SBP proposes performance-based remittance incentives, revising schemes to boost inflows and reduce TT charges.

ISLAMABAD:

Federal Minister for Petroleum Dr Musadik Malik stated on Saturday that the government encourages the youth to start their own businesses, aiming to shift focus from state-run firms to SMEs.

Responding to the proposed privatisation of the Pakistan Minerals Development Corporation, Malik explained the government's intent to exit business ventures, particularly loss-making state enterprises. He stressed the need for educated youth to pursue entrepreneurship rather than rely on government jobs. He highlighted that SOE have cost Pakistan billions, including PMDC.