Pakistan'sPrime Minister Muhammad Shehbaz Sharif on Thursday highlighted the critical importance of empowering youth and supporting small and medium enterprises (SMEs) to drive economic development, during his address at the D-8 Summit in Cairo. The summit, themed "Investing in Youth and Supporting Small and Medium Enterprises," emphasized the role of collaboration in fostering resilient economies among member states.
Addressing leaders from the D-8 member states, the prime minister called for greater investment in these key sectors to foster innovation, create jobs, and achieve sustainable growth.
“With over 60% of Pakistan’s population under the age of 30, we hold immense potential for innovation and development,” he said. “Investing in youth and supporting SMEs is not just an option but a necessity for socio-economic advancement.”
Highlighting Pakistan’s efforts, Shehbaz Sharif outlined the government’s flagship Youth Programme, which has distributed over 600,000 laptops to high-performing students, awarded hundreds of thousands of scholarships, and trained young individuals in cutting-edge fields such as artificial intelligence, data analytics, and cybersecurity. He noted that these initiatives had positioned Pakistan as home to one of the world’s largest freelance communities, contributing significantly to the global digital economy.
The prime minister also praised the government’s Youth Business and Agriculture Loan Scheme, which has provided billions of rupees to young entrepreneurs, enabling them to establish and scale their businesses. He highlighted initiatives like Start-up Pakistan and the National Innovation Award, which offer mentorship and funding to foster a thriving ecosystem for tech-driven start-ups.
Reflecting on the summit’s theme, “Investing in Youth and Supporting SMEs,” Shehbaz Sharif stressed the urgency of creating opportunities for the younger generation and cultivating environments where small businesses can thrive. He urged D-8 nations to pool resources, share best practices, and implement cross-border programs to empower their populations and strengthen their economies.
In a significant announcement, the prime minister revealed that Pakistan’s cabinet had approved the implementation of the D-8 Preferential Trade Agreement, along with its protocol on dispute settlement. He also underscored the importance of connectivity as a driver of peace and prosperity, urging member states to explore avenues for enhancing transport and trade links.
Shehbaz Sharif praised Egypt’s leadership in hosting the summit and welcomed Azerbaijan as a new D-8 member, expressing confidence in its contributions under President Ilham Aliyev. The prime minister also used the platform to draw attention to the ongoing conflict in Gaza, calling for a ceasefire and emphasizing the need for global peace and stability.
Quoting James Russell, the prime minister reminded attendees of their responsibility to empower the next generation. “The choices we make today will shape the destiny of generations to come. Let us choose to elevate young voices, support their dreams, and ensure a future led by an empowered generation,” he said.
The D-8 Summit provided a platform for Pakistan to reaffirm its commitment to investing in youth and SMEs as cornerstones of economic resilience, while also advocating for regional peace and cooperative development.
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