Business Desk 
Feb 04, 2025
Given the bleak economic outlook the country has been grappling with, aggravated by increasing job saturation, the government of Pakistan has expanded the scope of the loan scheme to facilitate students, entrepreneurs and people willing to move abroad to find employment opportunities.
Citing a notification issued by the State Bank of Pakistan (SBP), Geo News reported that the programme to provide financial assistance to youth was initiated by Prime Minister Shehbaz Sharif, lending money to educated, talented youth and enabling them to thrive in and out of the country.
As part of the programme, Rs150,000, Rs300,000 and Rs450,000 will be disbursed in loans for students to buy laptops, which would be repaid by students within four years alongside their universities' semester fees, the SBP circular stated.
It should be noted that this loan will exclusively be granted to students, aged between 18-30, who are affiliated with institutions recognised by the Higher Education Commission (HEC).
For those willing to relocate to foreign countries to find and secure employment opportunities, the government will extend loans of up to Rs1 million to facilitate visa fetching, accommodation and other living expenses abroad.
Only people aged between 21 and 45 are eligible to be given these loans at an interest rate of Karachi Interbank Offered Rate (KIBOR) plus a 3% bank rate. These individuals will be bound to repay the borrowed amount within five years.
