PM Imran will launch disbursement of interest-free loans to low-income groups

PM Imran will launch disbursement of interest-free loans to low-income groups

Staff Reporter, Web Desk
March 2, 2022

PM Imran will launch disbursement of interest-free loans to low-income groups

Prime Minister Imran Khan will launch the disbursement of the interest-free loans on Wednesday to the people of the low-income group under Kamyab Pakistan Program.

Under Kamyab Pakistan Program – a component of the prime minister’s vision for poverty alleviation – loans worth Rs 407 billion would be disbursed among the youths, women, farmers and for the construction of low-income houses during the next two years.

Read more: First phase of Kamyab Pakistan Programme launched

During the said period, the government would provide a subsidy of Rs 56 billion for the purpose.

The key objective of the Kamyab Pakistan Program is to provide relief to the low-income group and increase economic growth.

The launching ceremony will be held at Faisal Mosque.

The government’s Kamyab Pakistan Programme aims at uplifting the 4.5 million underprivileged households who are registered with the National Socio-Economic Registry (NSER) of the Ehsaas programme, a senior government official said.

Chairing a meeting of the Steering Committee and the Advisory Board of the Kamyab Pakistan Programme through a video-link, Federal Minister for Finance and Revenue Shaukat Tarin welcomed the prominent participants from the private sector and commended their professional expertise in respective fields.

He thanked them for their valuable input/suggestions for the programme and reiterated to ensure successful implementation of the programme through a collaborative and cohesive approach.

The Kamyab Pakistan Programme is a flagship programme, which would extend micro-loans to entrepreneurs, small businessmen and farmers, enabling them to access micro credit at zero per cent markup without collateral, he said, adding that the programme will enable the underprivileged families to break the vicious cycle of poverty.

The programme is aimed at extending agricultural loans to farmers with the landholding of up to 12.5 acres under “Kamyab Kissan” Scheme.

Micro-loans would be extended up to Rs150,000/crop for the procurement of agricultural inputs. In addition, loans of up to Rs200,000 would be given for the procurement of machinery and equipment.

Another component of the Kamyab Pakistan Programme is the introduction of a new tier in the low-cost Naya Pakistan Housing Scheme; wherein, loans of Rs2.7 million (for NAPHDA) and Rs2 million for non-NAPHDA projects will be given at subsidised rates.