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World Bank shows interest in PM's Youth Scheme

February 13, 2014

World Bank has evinced keen interest in the Prime Minister's Youth Business Loan Scheme. A six member delegation of the World Bank visited the Small and Medium Enterprises Development Authority (SMEDA) head office today to get an overview of the scheme.

Sardar Ahmad Nawaz Sukhera, Chief Executive Officer SMEDA gave a presentation on main features of the PMYBL and also highlighted the role of SMEDA in extending technical support to the applicants of the scheme.

He informed that out of the total downloads of 9 million till date from SMEDA website, the feasibilities relating to services and livestock sectors had recorded to be of the highest interest to public.

However, the 56 pre-feasibility studies prepared by SMEDA for the scheme have the potential to develop equitable business culture both in rural and urban areas of Pakistan,

He added and said that Ministry of Industries and Production was developing a national outreach program, in conjunction with SMEDA's business development services, for beneficiaries of the PMYBL. He told that a book titled as "Apni Dunya Aap Paida Kar" was also being published in this regard.

Talking about SMEDA's efforts for promoting SMEs In the country, CEO SMEDA informed that a five year SME development Plan was evolved by SMEDA last year, which had provided an impetus for successful implementation of the PMYBL. The visiting delegation comprised of Mr. Iftikhar Malik, Senior Social Protection Specialist and Task Leader, Mr. Amjad Zafar Khan, Social Protection Specialist and Co-Task Team Leader, Lucian Bucur Pop, Senior Economist, Mr. Thomas Walker, Economist, Mr. Gul Najam jam, Consultant World Bank and Ms. Fatima Naqvi, DFID.

The mission's team leader Mr. Iftikhar Malik informed that the World Bank was engaged in developing social protection for labour and the marginalized businesses in Pakistan through an economic alleviation program.

He hoped that the Prime Minister Youth Business Loan Scheme would pave way for curbing unemployment and poverty in Pakistan.

He applauded SMEDA's role in making PMYBL a success in helping Pakistan's youth become entrepreneurs.

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Source: Daily Frontier Post (Afghanistan)

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