Thursday September 29, 2022

Kamyab Pakistan Programme to be launched this month

By Our Correspondent
July 18, 2021
Kamyab Pakistan Programme to be launched this month

ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin stated that an extensive consultative process was followed in working out modalities of the Kamyab Pakistan Programme ensuring that all relevant stakeholders are on board.

Kamyab Pakistan is a flagship programme which shall extend micro-loans to entrepreneurs, small business and farmers at 0% markup without collateral. The key focus is to provide loans to 4.5 million households at the lowest strata, registered with the National Socio Economic Registry (NSER) of Ehsaas Programme, says a press release on Saturday.

The Kamyab Pakistan Programme reflects the firm commitment of the government in pursuing pro-people agenda and developing Pakistan into a welfare state in line with the principles of Riasat-e-Madina. The cumulative disbursement under the programme would be Rs1.6 trillion over the period of next 03-05 years and shall benefit 3,000,000 families which makes this programme as one of the largest of its kind in the world whereby the micro-loans will be disbursed under a wholesale arrangement between the Banks/DFIs/PMRC and the Microfinance Banks & Institution/Housing Finance Companies. Under Kamyab Kissan Programme, agricultural loans shall be given to farmers with landholdings upto 12.5 acres. Micro loans would be extended upto Rs150,000 (per crop) for procurement of agricultural inputs to boost agricultural productivity. In addition, loans upto Rs200,000 would be given for machinery and equipment.

Similarly, loans shall be extended for small businesses and start-ups at 0% markup in both rural and urban areas under ‘Kamyab Karobar’. Loan size is upto Rs500,000 and repayment will be in easy installments.

The third component of the scheme is introduction of a new tier titled Naya Pakistan Low Cost Housing Scheme wherein loans of upto Rs2.7 million (for NAPHDA) and Rs2 million (for non-NAPHDA) projects will be given at highly subsidised rates for upto 20 years. KPP will also integrate with the government's ongoing skill development programme for educational and vocational training under “Kamyab Hunarmand” scheme and provincial initiative of Sehat Insaf Card.

The Kamyab Pakistan Programme (KPP) has been designed to foster a “Bottom-up” approach as envisaged by the prime minister. The KPP aims at empowering all those who are under-privileged and belong to marginalised sections of the society. ECC has approved the Kamyab Pakistan Programme in its meeting held on 16 July, 2021.

The finance minister commended all concerned who made great efforts in designing the whole programme and taking it forward towards its formal launch which is scheduled soon.