The federal government has announced major changes to the Prime Minister’s Youth Business and Agriculture Loan Scheme, increasing the maximum loan limit from Rs7.5 million to Rs25 million and reducing the minimum eligibility age from 21 to 18 years. The revised scheme aims to encourage young entrepreneurs to establish new businesses, expand existing ventures and contribute to economic growth through business and agricultural activities.
Under the initiative, loans will be available for starting new businesses, expanding existing enterprises, agriculture and livestock projects, and establishing small and medium-sized enterprises (SMEs).
The government has also directed that 30 per cent of the loans be allocated specifically to women to encourage their participation in business and economic activities. The revised provisions set the maximum financing limit at Rs25 million, while applicants aged 18 and above will be eligible to apply, subject to the scheme’s final criteria.
The initiative is expected to provide greater financial opportunities for young people seeking to establish businesses and achieve economic independence. However, further details regarding the application launch, complete eligibility requirements, interest rates and the online application procedure are yet to be officially announced. Applicants have been advised to wait for the government’s formal notification before submitting applications.
