By: Asim Nawaz
ISLAMABAD: In a resolute effort to empower the youth and foster innovation, Minister for Finance and Revenue, Senator Mohammad Ishaq Dar, announced the allocation of a substantial Rs 80 billion for youth-centric initiatives in the Federal Budget 2023-24. The budget aims to provide opportunities and resources for the young population to excel and contribute to the nation’s development.
Under the Prime Minister Youth Programme (PMYP), a significant portion of PKR 10 billion has been allocated for youth loans, enabling aspiring entrepreneurs to establish their businesses. This initiative seeks to encourage entrepreneurial spirit and empower young individuals to become self-reliant contributors to the economy.
Additionally, Rs 5 billion has been earmarked for the Prime Minister Youth Skills Programme (PMYSP), aiming to provide specialized training and develop a skilled workforce to meet the demands of various industries. The government recognizes the importance of nurturing talent and equipping young individuals with the necessary skills to thrive in today’s competitive landscape.
The Federal Budget 2023-24 further demonstrates the government’s commitment to youth empowerment through various targeted allocations. These include Rs 10 billion for the PM Youth Laptop Scheme, Rs 10 billion for business and agriculture loans, Rs 5 billion for the Green Youth Movement, Rs 5 billion for women empowerment, Rs 5 billion for the PM Sports Endowment Fund, Rs 5 billion for IT startups and innovation awards, and Rs 5 billion for the PM Pakistan Education Endowment Fund.
Speaking on the importance of empowering the youth, Senator Ishaq Dar emphasized that they are the future leaders of the nation. The allocated budget aims to provide financial support, opportunities for business establishment, and encourage innovation among the youth. By enabling the youth to succeed, the government seeks to harness their potential for the overall development and prosperity of the country.
The government recognizes the significant role that young individuals play in shaping the nation’s future and remains committed to creating an enabling environment for their growth, success, and active participation in building a prosperous Pakistan.