Young generation, especially the students, economists, researchers and emerging businessmen always prove to be the backbone of any country as they put in maximum efforts for creating strong economies and invincible nations.

Nations across the globe regardless of caste, creed and colour fully employ such squads to lay down sound economic, cultural and educational foundations not only for self-sufficiency but to compete internationally.

Therefore, the governments in respective countries off and on introduce programmes and policies to get optimum benefit from abilities of their youth by involving them in a variety of nation-building activities, and Pakistan is less to none.

The recent remarkable initiative of reviving the Prime Minister’s Youth Business and Agriculture Loan scheme speaks volumes of the present government’s commitment to cultivate and advance business to empower youth that comprises a big chunk of the country’s total population.

“Such initiatives are a blessing for people like us in an era when there is economic recession and it is hard to get desired jobs,” said Salman Ali, a youngster who is in search of a job after completing Mechanical Engineering degree.

“This initiative will enable people like me to earn a respectable living and promote entrepreneurship culture in the country to build a strong economy and address the issue of unemployment,” he added.

Aimed at promoting entrepreneurship for youth by providing business loans and ensure bright future for them, this programme will facilitate all, including male, female, transgender and special persons between 21-45 years age to get loans up to Rs 7.5 million with 25 percent quota specified for women.

Terms and conditions will be simple and mark up lesser as 15 commercial, Islamic and SME banks will be providing loans to set up new as well as extension of the existing business, performing as catalyst for economic empowerment of the youth.

“Empowering youth is one of the top priorities of the government,” said Prime Minister’s Special Assistant on Youth Affairs, Shaza Fatima Khawaja. “It is our history that whenever the PML-N comes into power, it launches multiple schemes for students, unemployed youth and the small businessmen.”

She said, “Through its youth and agriculture loan programme, the government aims to providing financial assistance to talented youth for reducing unemployment and promoting a culture of self-employment to reduce extra burden on national kitty.

“Pakistani youth are talented, hardworking and passionate to compete in international market and fully benefit from opportunities provided them to grow and prosper,” she stated.

As unemployment and inflation were touching new heights due to global recession and unwise decisions of the previous PTI government, empowerment scheme would provide breathing space for the poverty stricken people.

Arifa Fatima who is already running a stitching business at small scale also pinned hopes in this endeavor as she thinks, “it will pave way for exploiting entrepreneurial potential of youth.”

“Provision of business loans on simple terms and conditions and with lesser markup will encourage people like us to fully utilize our energies for better earning as well as contribute to economic development of the country,” she stated.

“It was my long cherished desire to expand business but paucity of resources always hampered me,” she said. “But, this opportunity will definitely help me expand my business and create jobs for other people as well.”

“Special persons were often considered as a burden for their families as well as society. But, this initiative has also raised their hopes to become productive hands by making them earn a respectable livelihood.

“This is encouraging to include people like me in this scheme,” said Haris Kamal. “Special focus on persons with disabilities will ensure their constructive role in economic development, making them equally productive citizens of society.”

“Focusing this segment of society is appreciable,” remarked Abid Akram, a Disability Rights Activist. “We acknowledge the government’s initiative to provide easy loans to youth especially for special persons who form a sizable chunk of society with half among them the female.”

He said about 80 percent of the women with disabilities lived in rural areas and lacked access to basic health, education and employment. “Since these women cannot contribute in financial matters of their family, they are considered to be a burden.

“But, Youth Business and empowerment programme will help enable them to be financially independent,” Abid Akram said.

“We hope the government will exploit all means to spread information about the programme especially in far-flung areas for creating awareness among people.”

Pakistan’s agriculture sector has a vast potential and agriculture loans under this scheme are expected to increase investment in this sector and bring revolutionary changes.

Khalid Anwer, an agriculturist also sees better future for farmers especially youth who can promote corporate farming in the country to achieve the goals of self-sufficiency and food security.

“This scheme will help mould the interest of youth to benefit from the potential of agriculture sector making it technology driven for their and the benefit of the country as a whole,” he said.