The State Bank of Pakistan (SBP) has introduced a new loan program for those who want to go abroad for a job. Applicants must provide a verified job offer letter from an overseas employer to qualify for the loan.
Individuals seeking this loan must detail in their application how they plan to utilize the government-funded loan abroad. The loan will be available for a five-year term, with borrowers required to pay an interest rate three percent higher than the current market rate.
A family member residing in Pakistan must also act as a guarantor for the loan, meaning that the loan will be issued jointly to both the individual going abroad and their family member in Pakistan.
The loan will be provided to citizens aged 21 to 45, however amount and further details of the loan scheme yet to be disclosed.
Data from the Bureau of Immigration and Overseas Employment reveals that last year, the majority of Pakistanis seeking jobs opted for Gulf countries. In 2024, over 450,000 individuals traveled to Saudi Arabia for employment, while 64,130 headed to the United Arab Emirates.
More than 81,000 individuals found jobs in Oman, over 40,000 in Qatar, and 25,000 in Bahrain. Overall, the total number of Pakistanis who went abroad for work last year reached 727,381.
