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February 10, 2020

Asset Transfer: Scheme to benefit 1.45 million people

National

 
February 10, 2020

Islamabad: The Asset Transfer scheme of Ehsaas National Poverty Graduation Initiative has set target to benefit a total of 1.45 million people through providing 225,000 assets to the poorest of the poor.

According to an official source, the average cost of the assets to be given as grant is Rs50,000 which can include sewing machines, livestock and agricultural equipment to help them start their small business.

The recipients of asset transfer will be determined by using the poverty score card and would be given guidance and training to run their business.

National Poverty Graduation Initiatives (NPGI) is a key intervention under Ehsaas strategy aiming to graduate the poorest households out of poverty and set them on a course of economic and social prosperity, the source said.

The graduation initiative will reduce dependence of the population at the bottom of the pyramid on government- led social safety nets (Benazir Income Support Programme, Zakat and Bait-ul-Mal Programmes) and bring this population into the mainstream of economic development and financial inclusion.

The government, in addition to its own funding, is partnering with the international fund for Agriculture development (IFAD) and the Asian Bank (ADB) in this initiative. The other components of Ehsaas Graduation initiative include Interest Free Loan programme and Vocational and Skill Training. The total project cost of this initiative is Rs42.65 billion while the implementing agencies are Pakistan Poverty Alleviation Fund (PPAF) and BISP.