Islamabad: Prime Minister Shehbaz Sharif has approved significant changes to the Youth Business and Agriculture Loan Scheme to expand economic opportunities for young Pakistanis.

Under the revised policy, the maximum personal loan limit has been increased from Rs7.5 million to Rs25 million. The minimum eligibility age has also been reduced from 21 to 18 years.

The government has allocated Rs292 billion for loan distribution during the current fiscal year. The Prime Minister has additionally directed authorities to reserve 30 percent of the loans for women to encourage female entrepreneurship and financial independence.