Under the Prime Minister’s Youth Scheme, the government will provide loan of up to Rs1 million to those who are willing to go to foreign land for employment.

Chairman of the Prime Minister Youth Programme Rana Mashhood Ahmad Khan said that loans of up to Rs1million will be provided to those who are going abroad for securing a job.

“The aim of this initiative is to provide better economic opportunities to young individuals and enable them to compete in the international job market,” Rana said.

According to a notification issued by the State Bank of Pakistan, Pakistani citizens aged 21 to 45 years can avail the loan. However, a verified letter from the company offering employment to the applicant is required to obtain this loan.

The loan will be jointly issued in the name of the applicant and any of their close relatives in Pakistan, meaning that a family member of the person going abroad will have to act as a guarantor.

However, the State Bank has not yet clarified which banks will offer this loan.

Moreover, in addition to business loans, young individuals can obtain loans for laptops. The aim of the initiative is to provide better educational and professional development opportunities to the youth to enhance their skills.

Rana Mashhood stated that under this scheme, students aged 18 to 30 enrolled in Higher Education Commission-approved institutions will be eligible to acquire laptop loans.