Prime Minister (PM) Shehbaz Sharif emphasized the critical role of youth and small and medium enterprises (SMEs) as key drivers of economic progress during his address at the D-8 Summit in Cairo on Thursday. He outlined a vision for building resilient economies by investing in human capital and fostering entrepreneurship.
Investing in Pakistan’s Youth: A Fountain of Potential
The prime minister stated that with over 60% of Pakistan’s population under the age of 30, the country possesses immense potential for innovation and economic growth. Unlocking this potential requires providing the right skills, opportunities, and resources.
PM Shehbaz highlighted several government initiatives aimed at empowering the youth:
- Flagship Youth Programme:
- Distributed over 600,000 laptops to high-achieving students.
- Awarded thousands of scholarships to support education.
- Delivered training in demand-driven fields, including artificial intelligence, data analytics, and cybersecurity.
- IT and Freelancing Opportunities:
Pakistan boasts one of the largest freelance communities globally. The government is focusing on IT training at a mass scale to enable job seekers to become job creators, ensuring greater connectivity with the digital economy.
Promoting Entrepreneurship Through SME Support
The prime minister also highlighted efforts to support entrepreneurs and small businesses:
- Youth Business and Agriculture Loan Scheme:
- Disbursed billions in loans to enable young Pakistanis to start and scale their businesses.
- Start-up Pakistan and National Innovation Award:
- Aimed at fostering a vibrant start-up ecosystem by offering mentorship and incubation opportunities for innovative, tech-driven ideas.
Reflecting on the Summit’s theme, “Investing in Youth and Supporting Small and Medium Enterprises,” PM Shehbaz underscored the importance of empowering youth and entrepreneurship across D-8 member states. He emphasized that these efforts create sustainable development opportunities and allow small businesses to thrive.
Strengthening Regional Cooperation Through D-8
PM Shehbaz praised Egypt for hosting the D-8 Summit and welcomed Azerbaijan as a new member, expressing confidence in its leadership under President Ilham Heydar Oglu Aliyev.
He announced Pakistan’s cabinet approval of the D-8 Preferential Trade Agreement and its protocol on Dispute Settlement Mechanism, which aim to enhance trade among member states.
The prime minister stressed the importance of transport connectivity within the D-8, urging the development of intra-trade corridors and reliable supply chains to boost economic growth.
Addressing Global Challenges and the Situation in Gaza
PM Shehbaz also used the platform to address pressing global issues. He called for an immediate ceasefire in Gaza and peace in Lebanon, highlighting their significance for global stability. “While discussing today’s agenda, it is equally important to address the carnage in Gaza and ensure peace,” he said.
Quoting James Ressul, the prime minister concluded with a powerful message:
“The choices we make today will shape the destiny of generations to come. Let us elevate young voices, empower their dreams, and support their enterprises for an empowered future.”
