HYDERABAD: Prime Minister Muhammad Nawaz Sharif on Friday said the country could achieve tremendous development by harnessing the youth's talent and energy, who formed 60 percent of the population.

Speaking at the launching ceremony of Youth Business Scheme here at Hyderabad Club, he said the government had decided to empower the youth economically by granting loans to help them launch their own businesses.

This would not only help improve the socio-economic condition of the youth, but also directly benefit their family members, and other stakeholders engaged in different busniess activities, he added.

A total of 40 applicants, including 18 women, whose loan applications fulfilling codal formalities were accepted also attended the function and replied to the queries of Prime Minister.

Nawaz Sharif said the government had launched the scheme to improve the economic condition of the youth, who would be given loans ranging from Rs. 100,000 to Rs. 2 million.

The government realised that the country's educated and uneducated youth had no access to financial opportunities for their economic empowerment.

No development could be achieved without active participation of the youth, he said and added the government had decided to make the future builders financially strong.

He said youth were the major contributors to the development of any country and the government was determined to open vistas for them, who remained neglected so far.

In the past, big loans, amounting upto Rs. 20 billion were being granted to individuals or groups, but the youth were ignored, he said.

The Prime Minister said the present government was determined to remove the sense of deprivation among the youth by supporting them.

(APP)