Pakistan is a country brimming with potential, yet it often falls short of realising that promise. A major barrier is the limited access to opportunities for its talented youth, preventing them from fully showcasing their capabilities. The state of the economy is grim, and its effects are especially visible in households where the income hovers just above the minimum wage. In light of this, the government's recent expansion of its youth loan programme stands as a commendable step forward. Through this initiative, students, freelancers and young entrepreneurs now have the opportunity to borrow up to Rs450,000 for purchasing laptops. Aspiring overseas workers (aged 21-45 with a confirmed job offer) can also secure loans up to Rs1 million for expenses related to training and visa applications. The aim is to promote education, digital skills, entrepreneurship and remittances.
According to the State Bank of Pakistan (SBP), remittances are expected to reach $35 billion in FY2025, making them a vital lifeline for the country's economy. It is heartening to see the government prioritizing the empowerment of Pakistan’s youth, especially given that the country has a young and dynamic population. However, it is essential that authorities ensure this scheme benefits people from all walks of life, particularly those from disadvantaged backgrounds. The country's youth includes many from lower-income and impoverished households who typically miss out on such opportunities. This stark inequality became especially evident during the Covid-19 pandemic when nationwide lockdowns locked poor students out of virtual classrooms. Many of these students attend low-tier schools, where educators are often unaware of government-backed initiatives, leaving children without the tools needed for a brighter future. The government must introduce special provisions to support these students, especially given that many come from households where parents are not employed in the formal sector and are therefore unable to provide the collateral required for loan applications.
Equally important is the need to focus on providing skills training for unskilled labourers, allowing them to compete in foreign recruitment drives. The ongoing economic challenges have pushed many individuals to seek opportunities abroad, often falling prey to human traffickers in the process. Recent boat tragedies have highlighted the risks faced by young Pakistanis who embark on perilous journeys in search of a better life. This tragic reality is the result of their inability to access the resources and opportunities offered by the digital world. With government-backed loans, these individuals would at least have a reliable avenue to equip themselves with the tools needed to thrive in a competitive global marketplace. Years of political instability and economic uncertainty have held back many talented Pakistanis; the state needs to now serve as the support these individuals need to move forward.