The Punjab government's Parwaz Card project for youth as Planning and Development (P&D) Board has approved initial three-year expenditure of the project, reported 24NewsHD TV channel on Wednesday.
Under the project, as many as 45,000 youth will get employment abroad in three years.
Planning and Development Board approved Rs6.9 billion for the project.
Manpower will be developed in various sectors including health, construction, hotel, logistics and IT.
Not less than 8,000 people will benefit in the first year, 15,000 in the second year, and 22,000 in the third year.
Skills training, pre-departure training and skills verification will be included in the scheme.
Biometric, medical, protectorate and air ticket expenses are also included in the scheme.
Each individual will get an interest-free loan of Rs150,000 to Rs1 million.
Three-month grace period, repayment will be made in easy installments over 15 months.
Monthly installment will be fixed from Rs12,000 to Rs80,000.
There will be a facility to withdraw 20 percent of the loan amount in cash.
Job offer letter and residency in Punjab are mandatory.
The project is expected to generate remittances of up to$200 million annually.