Staff Reporter
ISLAMABAD:In a bid to promote economic empowerment among women, the Prime Minister’s Youth Program (PMYP) has planned to launch an initiative to support women-owned businesses through the Prime Minister’s Youth Business & Agriculture Loan Scheme (PMYBALS).
In collaboration with Rawalpindi Women Chamber of Commerce and Industry (RWCCI), the scheme aims to provide financial assistance to young women entrepreneurs, enabling them to start or expand their businesses.According to an official, 25% of the scheme’s quota is dedicated to women entrepreneurs, promoting female economic empowerment. Furthermore, a Loan Facilitation Center will be established at RWCCI to streamline the loan application process and support women-led businesses.Notably, the program would also provide formal mentorship sessions, capacity-building programs, and awareness and business training sessions to equip women with the necessary skills to succeed in the business world.These initiatives will be extended to RWCCI members and women from other regional chambers, equipping them with the tools and expertise needed to succeed in business.Under PMYBALS, women entrepreneurs can access loans up to a specified amount to pursue their business ventures.
The initiative is expected to have a significant impact on women’s economic empowerment, promoting financial independence and contributing to the country’s overall economic growth.By supporting women-owned businesses, PMYP is playing a vital role in promoting gender equality and social development.
The program’s focus on women entrepreneurs is a welcome step, as it acknowledges the crucial role women play in driving economic growth.With PMYP’s support, women entrepreneurs can now access the resources they need to turn their business ideas into reality.By empowering women entrepreneurs, PMYP is paving the way for a more inclusive and prosperous economy. The initiative’s success is expected to inspire more women to pursue entrepreneurship, ultimately contributing to a brighter economic future for Pakistan.
