The State Bank of Pakistan (SBP) has announced that Prime Minister Shehbaz Sharif has expanded the Youth Business and Agricultural Loan Scheme, introducing new financing options for laptops and individuals seeking employment abroad.
Under this initiative, students aged 18 to 30 enrolled in HEC-approved institutions will be eligible for four-year laptop loans at a KIBOR plus 3% rate, with amounts ranging between PKR 150,000 to PKR 450,000. The repayment schedule will be aligned with university fee payments.
For individuals planning to work abroad, loans of up to PKR 1 million will be available to cover training, visa, and travel costs. These loans will have a five-year term at a KIBOR plus 3% bank rate and will be accessible to applicants aged 21 to 45.
As part of the newly introduced “Tier 4” of the Prime Minister’s Youth Loan Scheme, soft loans will be offered to facilitate laptop purchases.
This initiative aims to support students from HEC-recognised institutions, as well as freelancers and young entrepreneurs, providing them with easy access to laptops to enhance their learning and productivity.
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To implement this, universities and banks will enter into an agreement for laptop financing. Under this system, universities will refer eligible students to participating banks via the PMYP portal, and in return, banks will provide laptops to these students. Universities will ensure that students meet the necessary terms of the agreement.
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