CAIRO: Prime Minister Muhammad Shehbaz Sharif underscored the critical role of youth and small and small medium enterprises (SMEs) in economic development, stating that robust economies are built by investing in these key drivers of progress. He emphasized the importance of focusing on youth, given that over 60% of Pakistan’s population is under 30, describing them as a “fountain of potential for innovation and growth.”
Addressing the D-8 Summit in Cairo, the PM highlighted that unlocking this potential requires providing the right skills, opportunities, and financial resources.
The theme of this year’s summit, held from December 18 to 19, is “Investing in Youth and Supporting SMEs: Shaping Tomorrow’s Economy”.
He shared details of the government’s flagship Youth Programme, which aims to equip Pakistan’s youth with education, jobs, and entrepreneurial opportunities.
Prime Minister Shehbaz stated that the programme has achieved remarkable milestones since its inception in 2013 under the leadership of former Prime Minister Nawaz Sharif. Over 600,000 laptops have been distributed to high-achieving students, thousands of scholarships have been awarded, and a significant number of individuals have been trained in demand-driven skills such as artificial intelligence, data analytics, and cybersecurity.
“Pakistan is home to one of the largest freelance communities globally,” he remarked. “We are prioritizing IT training at a mass scale to connect our youth with the digital economy and transform job-seekers into job-creators.” He also elaborated on initiatives like the Youth Business and Agriculture Loan Scheme, which has enabled young Pakistanis to establish and expand businesses through substantial financial support.
Further, the premier spoke about Start-up Pakistan and the National Innovation Award, initiatives aimed at fostering a dynamic startup ecosystem. These programs, he said, provide mentorship and funding incubation opportunities for innovative, tech-driven ideas that have the potential to shape Pakistan’s future.
Reflecting on the Summit’s theme, “Investing in Youth and Supporting Small and Medium Enterprises,” Prime Minister Shehbaz stressed its relevance in creating resilient economies and promoting sustainable development among D-8 member states. He called for empowering youth and fostering entrepreneurship to enable small businesses to thrive across borders.
Congratulating Egypt on successfully hosting the Summit, he lauded Azerbaijan’s inclusion in the D-8, expressing confidence in President Ilham Aliyev’s leadership to contribute meaningfully to the organization. He also announced Pakistan’s cabinet approval of the D-8 Preferential Trade Agreement and its Dispute Settlement Mechanism protocol, underscoring Pakistan’s commitment to regional trade cooperation.
The prime minister concluded by quoting James Ressul, urging D-8 nations to make decisions that empower youth and support their enterprises. He also highlighted the importance of ceasefire in Gaza, appealing for global and regional efforts to ensure peace and progress. “Let us commit today to empowering young voices and fostering their dreams, ensuring a brighter future for all,” he said.
