Investing in youth and supporting small and medium enterprises (SMEs) are vital for building robust economies, Pakistan’s Prime Minister Muhammad Shehbaz Sharif said on Thursday. Addressing the D-8 Summit in Cairo, Sharif emphasized that these two key drivers are crucial for socio-economic development and progress in Pakistan.
“With over 60% of our population under the age of 30, we possess a fountain of potential for innovation and growth,” Sharif stated. He highlighted the need to provide young people with the necessary skills, opportunities, and financial resources to unlock this potential.
Sharif explained that the Pakistan government is committed to providing quality education, creating jobs, and offering productive opportunities through its flagship Youth Programme. He said that since 2013, under the leadership of former prime minister Nawaz Sharif, this program has distributed over 600,000 laptops to high achievers, awarded hundreds of thousands of scholarships, and trained many individuals in fields such as artificial intelligence, data analytics, and cybersecurity.
“Pakistan is home to one of the largest freelance communities in the world. We are focusing on IT trainings at a mass scale to equip our youth with the necessary tools to connect with the digital world and capitalize on those opportunities with the aim to enable job-seekers become job-creators,” he added.
Sharif also spoke about the government’s Youth Business and Agriculture Loan Scheme, which has disbursed billions in loans to enable young Pakistanis to start and scale their own businesses. Furthermore, he noted initiatives such as Start-up Pakistan and the National Innovation Award, which aim to foster, recognise, and promote a promising start-up ecosystem, providing mentorship and funding opportunities for innovative, tech-driven ideas.
The prime minister noted the Summit’s theme, “Investing in Youth and Supporting Small and Medium Enterprises,” and stressed its relevance in building resilient economies and creating opportunities for sustainable development across member states. He said that empowering youth and entrepreneurship presented an opportunity for D-8 member states to harness the power of their young populations and create environments where small businesses can thrive.
Sharif congratulated the Egyptian government and its leadership for hosting the D-8 Summit, which he called an important platform for development cooperation between like-minded countries. He also welcomed Azerbaijan as a new member of D-8, expressing confidence that under the leadership of President Ilham Heydar Oglu Aliyev, Azerbaijan would play an important role in achieving the objectives of the D-8.
“Today’s Summit offers a valuable opportunity for D-8 countries to share the best practices, pool resources, and create programs that support youth and SMEs across borders,” he said. He added that Pakistan’s cabinet had approved the implementation of the D-8 Preferential Trade Agreement and its protocol on the Dispute Settlement Mechanism.
Sharif pointed out that connectivity was a “force multiplier” and essential for peace and prosperity. He called for the exploration of developing and enhancing transport connectivity among D-8 member states to build efficient intra-trade corridors and reliable supply chains, as emphasised in the Dhaka Declaration of 2021.
Quoting James Ressul, he urged member nations to make choices that empower the younger generation. “The choices we make today will shape the destiny of generations to come. Let these be choices to elevate young voices, empower their dreams and support their enterprises to ensure that our future is in the hands of an empowered generation,” he added.
In addition to the economic agenda, Prime Minister Sharif also highlighted the importance of a ceasefire in Gaza, stressing that it was crucial to ensure peace, prosperity, and progress, not only in the region but globally.
“I would, in all humanity, urge my brother presidents, prime ministers, other dignitaries sitting in this room that while we discussed today’s agenda, it was equally important to discuss the situation in Gaza and the peace and ceasefire in Lebanon and potential threat of Israel’s carnage,” he said.
