ISLAMABAD, Apr 19 (Alliance News):Prime Minister Muhammad Shehbaz Sharif has inaugurated a string of mega initiatives for the huge young bulge of the country, providing them opportunities to amply explore their innate talents and potential for shaping the country’s future.
Under the prime minister’s vision, the Federal Government had launched the PM’s Youth Development Initiatives by unveiling 15 mega programmes for empowering the younger generation and equipping them with modern education.
According to a report of the United Nations Development Programme (UNDP), currently 64 percent of the nation is younger than 30 and 29 percent is between 15 and 29 years.
Pakistan now has more young people than it has ever had, and this is forecasted to continue increasing until at least 2050. Considering this key factor, the Federal Government had unveiled the Prime Minister’s Youth Development Package worth Rs 150 billion to empower the youth, who are the ‘biggest asset’ of the country.
These programmes included Ba-Ikhtiyar Nujawan Internship Programme, PM’s Youth Laptop Programme; 5,000 scholarships for the students of Balochistan & Ex- FATA; 75 National Top Talent Scholarship Programme; Establishment of Seerat Chairs; Establishment of Sub-Campuses of Public Sector Universities in the least Developed Districts of Pakistan; Youth Skills Training Programme; Young Development Fellowship Programme; 7 Centers of Excellence; Pakistan Innovation Fund Young Development Leader Award; Special Development Scheme for the Uplift of the 20 poorest districts of Pakistan; Young Peace and Development Corps and 250 Mini Sports Complex across Pakistan.
These initiatives also included 2,000 internships for young engineers, 20 under-developed districts transformation programme, Pakistan Innovation Fund, and 75 National Top Talent Scholarships Programme. Similarly to enable a vast young segment, the prime minister also launched the Youth Business and Agri Loans Scheme which provides opportunities to the youth to earn their livelihood through different business and agriculture initiatives.
According to details, the initiative is aimed at promoting entrepreneurship among the youth by providing business loans on simple terms and with less mark-up through 15 commercial, Islamic and SME (Small and Medium Enterprises) banks.
All Pakistani residents, aged between 21 and 45 years with entrepreneurial potential are eligible to apply for the loan. Loans provided under the scheme are segregated into three tiers. People in the age group of 21 and 45 years can avail the loan facility of up to Rs 7.5 million under these schemes.
For IT and E-commerce businesses, the lower age limit is 18 years. Microfinancing through small business loans will promote a norm of jobs creation rather than job seeking among the country’s youth bulge.
The prime minister, during the inauguration ceremony, had remarked that the programme was also launched during former prime minister Nawaz Sharif’s tenure at the federal level and Rs 75 billion worth loans were provided to 5,4000 youth which had not only benefited them, but also boosted the country’s economy.
About 64 percent of the country’s population comprised youth and the initiative directly targeted them.
About 15 banks and five micro banks are participating in this scheme. The addition of agricultural loans are helping the rural youth in bringing innovation to farming, which includes mechanised farming, the creation of agricultural value chains and the solarisation of farming equipment to create more sustainable energy resource management in a climate-challenged country like Pakistan. About 25% quota has been reserved for women.
Islamic banking facilities can also be availed on the loan scheme. Prime minister Shehbaz Sharif had termed the loan schemes aimed at making the youth self-reliant. “In the past, the PML-N-led government provided Rs 40 billion loans to youth and its recovery ratio was 90%. The Nawaz Sharif-led government issued laptops worth Rs 15 billion to the youth,” the prime minister recollected while unveiling the scheme.
The other innovative opportunity for the young talented masses launched by the prime minister was “Innovation Hub” programme. Set under the prime minister’s vision, the Innovation Hub will play an important role in harmonizing policy making with the needs of the country by incorporating the views of all stakeholders, particularly the talented youth and manpower.
It is a very innovative programme which was launched to solicit expert advice, input and contribution from domestic and foreign Pakistanis.
It also reflects the prime minister’s resolve that he will personally promote the newly-launched Innovation Hub and the government will set up special cells for the talented youth at all ministries to encourage them work on their innovative ideas for national policy-making.