Govt plans to give Rs1.6tr loans under new programme

ISLAMABAD: The government has decided to launch an ambitious Kamyab Pakistan Programme (KPP) to uplift 4.5 million underprivileged households to disburse Rs1.6 trillion subsidised loans.

In the past, governments had made such plans but they never succeeded to lure banking sector first of all and secondly customers because of inability to adopt simplified procedures.

According to an official statement, Federal Finance and Revenue Minister Shaukat Tarin has chaired a meeting of the Steering Committee and Advisory Board of the Kamyab Pakistan Programmne (KPP) through a video-link which was participated in by

SAPM on Finance and Revenue Dr. Waqar Masood, SAPM on Youth Affairs Mr Usman Dar, RSPN Chairman Shoaib Sultan, Finance Secretary Yusuf Khan, Akhuwat Executive Director Dr Amjad Saqib, PMN CEO Mohsin Ahmed, NRSP CEO Rashid Bajwa, HBL Chairman Sultan Ali Allana, BoP President Zafar Masud, Kashaf Foundation MD Roshaneh Zafar, Ex-SBP governor Syed Salim Raza and other senior officers.

The meeting was held to fine tune the modalities of the Kamyab Pakistan Programme (KPP) scheduled to be launched soon.

The minister welcomed the participants from the private sector and commended their professional expertise in respective fields. He thanked them for their valuable input/suggestions with reference to the programme and reiterated to ensure its successful implementation through a collaborative and cohesive approach. He said that the programme aims to uplift 4.5 million under-privileged households registered with the National Socio-Economic Registry (NSER) of the Ehsaas programme. The flagship programme willl extend microloans to entrepreneurs, small businessmen and farmers enabling them to access micro credit at zero mark-up without collateral. The programme will enable under-privileged families to break the vicious cycle of poverty, he said.