Loan initiative for youth eyeing work abroad

Islamabad:The federal government has launched an initiative under the Prime Minister’s Youth Programme to support youth eyeing employment opportunities abroad.

As part of the scheme, interest-free loans of up to Rs1 million will be provided to 100,000 individuals. This financial assistance is intended to help cover key expenses associated with overseas employment, making global career prospects more accessible for the country’s youth, according to the programme.

Officials said the loan package will encompass a range of costs, including travel expenses, skills training, visa fees, and initial settlement costs in the host country. This comprehensive support system is designed to ensure that beneficiaries are well-prepared and financially secure during the early stages of their international employment journey.

The officials said the loan will be offered on flexible terms, with a repayment plan spread over seven to eight years in equal monthly instalments. They said the initiative was meant to ease the financial burden on recipients and encourage more young people to take advantage of the opportunity without fear of immediate repayment pressure.

In order to qualify, applicants must be between 21 and 45 years of age and possess either a valid job offer or proof of recruitment through licensed Overseas Employment Promoters. The scheme is targeted at individuals with verified prospects abroad, ensuring that the financial support is directed towards those with real opportunities.

According to officials, the initiative reflects the government’s commitment to empowering the youth and investing in their future. By facilitating access to international job markets, the scheme is expected to enhance the country’s human capital, increase economic activity, and develop a more skilled and globally competitive workforce.