The Commonwealth Secretariat, in collaboration with UNDP Pakistan and the Islamic Development Bank, has announced the launch of the highly anticipated report titled “State of Youth Entrepreneurship Ecosystem in Pakistan.”
This groundbreaking report provides valuable insights into the current landscape of youth entrepreneurship in Pakistan and offers strategic recommendations to foster a dynamic and inclusive ecosystem for young entrepreneurs, says a statement issued here on Monday.
The launch event, held in Islamabad, featured a keynote address by Chairman Rana Mashhood Ahmed Khan of the Prime Minister’s Youth Programme, who commended the collaborative efforts behind the report and emphasized the government’s unwavering commitment to support youth entrepreneurship in Pakistan.
In his address, Rana Mashood Ahmed Khan highlighted the transformative initiatives undertaken by the Prime Minister’s Youth Programme to promote entrepreneurship across Pakistan.He underscored the success of the Prime Minister’s Youth Business Loan Scheme, which has disbursed Rs83.6 billion to young entrepreneurs, including 16,000 female entrepreneurs, since its re-launch by Prime Minister Mian Muhammad Shebaz Sharif on January 24, 2023.
The scheme has provided loans to 140,000 youths, including those engaged in agriculture, microfinance, and interest-free ventures, enabling them to turn their innovative ideas into thriving businesses.
Additionally, Rana Mashood Ahmed Khan emphasized the impact of the National Innovation Award, which provides financial support, mentorship, and incubation resources to help young entrepreneurs realize their full potential and foster a culture of innovation and creativity in Pakistan.
According to the statement, the Prime Minister’s Youth Programme remains committed to empower the next generation of entrepreneurs, and we call upon our development partners and the private sector to join us in implementing the recommendations outlined in the report.
The launch event brought together government officials, development partners, representatives from the private sector, and aspiring young entrepreneurs to discuss strategies for enhancing the entrepreneurship ecosystem in Pakistan and driving sustainable economic growth.
The “State of Youth Entrepreneurship Ecosystem in Pakistan” report serves as a roadmap for policymakers, development agencies, and stakeholders to design targeted interventions that support youth entrepreneurship and contribute to economic development in Pakistan.
