Initiative includes interest-free loans, business financing; Scholarship scheme, Sehat Card to be linked to KPP
Prime Minister Imran Khan will inaugurate the Kamyab Pakistan Programme today which is aimed at disbursing loans worth Rs1,400 billion among 3.7 million families in the country.
A statement quoting Finance Minister Shaukat Tarin said the programme would be a major initia-tive towards alleviating poverty by empowering the deprived segments of the society and supporting them in transforming their lives.
The programme would also link low-income groups with banks through micro-finance institutions, added the Prime Minister Office’s media wing.
Under the initiative, farmers will get inter-est-free loans under the Kamyab Kisan programme, while financing would be made available for busi-nesses up to Rs500,000 under the Kamyab Karobar programme.
Moreover, financing on easy instalments would be extended for the construction of houses under the Sasta Ghar Scheme.
Skilled based scholarship schemes and the Sehat Insaf Card will also be linked with the Kamyab Pakistan Programme.
The communique further stated that the pro-gramme reflected the state’s responsibility towards the weaker segments of the society.
Late last month, the government announced to hire banks for the initiative through a competitive process, as it is set to reduce program size by three-fourth to just Rs10 billion a month and also placed an upper limit for sovereign guarantees.
In his remarks, the finance minister stated that KPP is a flagship initiative of the government which is designed to transform the lives of the marginal-ised segments of the society and ensure their finan-cial empowerment.
This is the first programme of its kind in Paki-stan’s history in which the banks are being con-nected to the lowest income segment through micro-finance institutions. Therefore utmost care is being taken before the launch of KPP, the finance minister said.
Shaukat Tarin said that all preparations for the inauguration of the Kamyab Pakistan Program have been completed.
Shaukat Tarin said the program is designed to change the lives of disadvantaged sections of soci-ety and empower them financially.
He said this is definitely the first program of its kind in Pakistan to connect banks and low-income groups through mi-crof inance institutions.
The Finance Minister said it is a practical ex-pression of the state’s sense of responsibility toward the poor and vulnerable.
He said Kamyab Pakistan Program has five components, which include inter-est free loans to farmers through successful farmers, interest free loans up to half million rupees to start a business, easy installment financing facility under affordable housing scheme to build one’s own house, and provision of skilled based scholarships to the youth.