PRIME Minister Imran Khan on Wednesday launched the disbursement of interest-free loans under Kamyab Pakistan Program saying loans worth one thousand billion rupees will be provided to four point five million deserving households by next year to lift them out of poverty and enable them earn their livelihood.
Loans to the tune of 2.5 billion rupees have already been disbursed under the program.
This is a unique initiative on the part of the government and the first one whereby a handsome amount is being disbursed interest-free for the start of businesses or construction of houses.
In the past also interest free schemes were introduced but the amount given used to be very minimal in which one could not even open up a fruit or vegetable shop.
But this time around up to five hundred thousand rupees is being given for the start of businesses which in fact is enough to enable the youth to stand on his/her feet.
What, however, is yet to be seen is its successful implementation.If pursued as envisioned by Prime Minister Imran Khan, it has the potential to not only create immense economic activity in the country but also generate substantial job opportunities.
Hence, we will suggest the Prime Minister to personally monitor the progress on Kamyab Pakistan Program, ensuring that the disbursements are made at the earliest without any hiccups.
Prime Minister Khan always in his speeches allude to the State of Madinah whose principles indeed are a beacon of light for us.
Success indeed lies in following those golden principles.There was no concept of Riba in State of Madinah as it has been strongly prohibited by God Almighty.
Islam is against all forms of exploitation from the economy.It wants to establish justice between the financier and the borrower; the capitalist and entrepreneur in order to establish and maintain an egalitarian society in the world.
Whilst Rehmatul lil Alameen Authority has been established, it must also be entrusted with the responsibility as to how we can make our economy free of Riba/interest.
This is the path of greatness and God Almighty indeed will shower His blessings on this country.
