Government Announces Rs. 10 Million Interest-Free Loans to Empower Freelancers and Startups
The government will provide interest-free financing of up to Rs. 10 million to establish 250 working spaces through the National Co-Working Space Program (NCSP).
The program, to be executed under the Pakistan Software Export Board (PSEB), aims to provide state-of-the-art infrastructure that enhances freelancers’ productivity and strengthens Pakistan’s digital ecosystem. It seeks to foster inclusivity across digital, financial, and economic sectors while promoting a culture of freelancing and entrepreneurship in the country.
The financing will support the establishment of co-working spaces with a minimum capacity of 100 seats under a public-private partnership model, according to the Expression of Interest (EOI) issued by PSEB. The government launched the NCSP initiative to position Pakistan as a global freelancing hub.
This move comes as the country faces economic challenges, with 8.9 million youth unemployed and 21.8 million out of education, employment, or training, according to Gallup Pakistan. Pakistan’s freelancing potential in the global market remains significant and continues to expand.
To further support freelancers and skilled professionals, the government has embarked on an ambitious mission to set up over 250 co-working spaces nationwide. These centers will form a network of virtual technology hubs, empowering emerging talent and enhancing digital participation.
Strategically located across Pakistan, these co-working spaces are envisioned to serve as incubators for innovation and collaboration. They aim to create an environment where the country’s youthful talent can fully utilize their skills and play a vital role in propelling Pakistan into the digital era.
This initiative is designed to address the challenges faced by freelancers and professionals by offering accessible, well-equipped workspaces and promoting a culture of collaboration and innovation. These centers will not only serve as physical work environments but also as hubs for knowledge sharing, skill development, and networking.
Requirements for Conversion of Buildings
- Any existing co-working space or vacant, underutilized public or privately owned/rented building/workspace with the right of use is eligible.
- The loan facility is available for setting up a new NCSP center. The loan may be processed through the PM Youth Loan Scheme or via commercial banks.
- The center shall be established, operated, and maintained by the applicants.
