State Bank of Pakistan (SBP) Governor Jameel Ahmed has stated that the anticipated goal for agricultural loans in the upcoming fiscal year 2023–24 is likely to be set at Rs 1,819 billion. At the Youth Business and Agri-loans Scheme inauguration event, he stated that the goal for agricultural loans for the current fiscal year 2022–23 was set at Rs 1,419 billion.

The governor said that young people under 30 make up 64% of the country's population. He underlined his commitment to fostering the economic independence of the nation's youth. According to Jameel Ahmed, the Federal Minister of Finance, Ishaq Dar, made a special effort to help the government and State Bank establish a programme for the young loan initiative. He stated that in order for more individuals to take advantage of this programme, openness and simple processing are its crucial components.

According to him, a goal of Rs 30 billion has been fixed under this programme for loans to small and medium-sized businesses and the agricultural sector. By June 30 of this year, the banks must achieve the goal of this programme, according to the SBP governor. He said that as of right now, 14,600 loan requests totalling Rs 17 billion have been made under this programme. According to Jameel Ahmed, a loan for at least Rs 500,000 would be granted without the need to first provide a guarantee. The governor stated that orders have been given in this respect to promptly grant women loans to promote their economic empowerment.

Credit : Independent News Pakistan-WealthPk