Prime Minister Imran Khan will inaugurate the Kamyab Pakistan Programme on Monday. The initiative 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 initiative 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 interest-free loans under the Kamyab Kisan programme, while financing would be made available for businesses 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 programme 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 marginalised segments of the society and ensure their financial empowerment.
This is the first programme of its kind in Pakistan’s history in which the banks are being connected to the lowest income segment through microfinance institutions. Therefore utmost care is being taken before the launch of KPP, the finance minister said.