Govt to Offer Rs. 1 Million Interest-Free Loans to Young Pakistanis Seeking Jobs Abroad

Govt to Offer Rs. 1 Million Interest-Free Loans to Young Pakistanis Seeking Jobs Abroad

In a significant step to empower youth and reduce unemployment, the Government of Pakistan has announced an initiative to provide interest-free loans of up to Rs. 1 million to 100,000 young individuals aiming to go abroad for employment.

Objective of the Scheme

The primary goal of this scheme is to financially support talented Pakistani youth who receive job offers or want to explore work opportunities overseas but lack the funds required for visa, travel, and initial settlement costs.

Who is Eligible?

According to official sources, the eligibility criteria include:

• Age between 18 to 35 years

• Must have a valid job offer or confirmation from a foreign employer

• Possession of a valid passport

• Proof of language proficiency (where applicable)

• Must be a Pakistani citizen with no criminal record

Loan Details

• Amount: Up to Rs. 1 million

• Interest Rate: 0% (Interest-free)

• Repayment Period: Easy installments over 3 to 5 years

• Security: Flexible conditions (may require guarantor)

How to Apply?

The application process is expected to be launched through a dedicated online portal in the coming weeks. The following documents will be required:

1. CNIC & Passport

2. Valid Job Offer Letter

3. Educational and Professional Certificates

4. Visa Approval (if available)

5. Language Test Score (IELTS etc., if required)

Implementation Partners

The program will be implemented through:

• Ministry of Overseas Pakistanis and Human Resource Development

• SMEDA

• Bank of Punjab and other partner financial institutions

This initiative could significantly boost the number of skilled Pakistanis working abroad, bringing in foreign remittances and reducing local unemployment. Stay tuned for official application dates and the portal launch.