Kamyab Pakistan Programme design finalised

ISLAMABAD: The Steering Committee and Advisory Board of Kamyab Pakistan Programme (KPP) on Friday jointly reviewed the design and finalised contours of the programme in consultation with all relevant stakeholders, a statement said.

Shaukat Tarin, minister for Finance and Revenue, presided over the meeting.

"After extensive discussion, it was decided that a robust bidding process would be undertaken for selection of Wholesale Lenders (Banks) who in turn would exclusively engage with Executing Agencies - EAs - (Microfinance Providers)," the statement added.

"There will be a quarterly performance review of Wholesale Lenders with reference to disbursement of funds and the government will extend guarantee to wholesale banks upto 50 percent on a risk sharing basis."

The statement said it will ensure transparency and due diligence in evaluating performance of Wholesale Lenders with reference to disbursement of funds.

The meeting was informed that another landmark feature was formation of KPP Portal called Kamyab Pakistan Information System (KPIS). There would be a toll-free number, which would be integrating KPIS through Telecos via NTC, the meeting noted.

It further said the portal would be integrated with Ehsaas Data and NADRA for verification of beneficiaries eligibility to facilitate the Executing Agencies for finalising the financing modalities in a most efficient and seamless manner.

Minister Tarin said KPP was aimed at bridging disconnect between banks and the unbanked population. “This is first programme of its kind in Pakistan‘s history wherein the banks are being connected to the lowest income segment through microfinance institutions,” he added.

“Therefore utmost care is being taken before the launch of KPP. The underlying rationale is to ensure all stakeholders are on board for ultimate success of the Programme.”