The PTI government will launch Kamyab Pakistan Programme this month and disburse Rs1.6 trillion in the next three years to benefit the underprivileged population of the country.
The programme was finalised in an extensive consultative meeting presided over by Finance Minister Shaukat Tarin.
He said that an extensive consultative process was followed in working out modalities of the Kamyab Pakistan Programme ensuring that all relevant stakeholders are on board. This programme will be one of the largest of its kind in the world, he added.
Kamyab Pakistan is a flagship programme that will micro-loans to entrepreneurs, small businesses and farmers at zero percent mark-up and 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.
The 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 three to five years and will benefit three million families which makes this programme 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 the programme, agricultural loans shall be given to farmers with landholdings up to 12.5 acres. Micro loans would be extended up to Rs150,000 (per crop) for the procurement of agricultural inputs to boost agricultural productivity. In addition, loans up to Rs200,000 would be given for machinery and equipment.
Similarly, loans will be extended for small businesses and start-ups at zero mark-up in both rural and urban areas under ‘Kamyab Karobar’. The loan size is up to Rs500,000 and repayment will be in easy installments.
The third component of the scheme is the introduction of a new tier titled Naya Pakistan Low Cost Housing Scheme wherein loans of up to Rs2.7 million (for NAPHDA) and Rs2 million (for non-NAPHDA) projects will be given at highly subsidised rates for a period of up to 20 years.
The programme will also integrate with the government’s ongoing skill development programme for educational and vocational training under the “Kamyab Hunarmand” scheme and provincial initiative of Sehat Insaf Card.
The programme has been designed to foster a “Bottom-up” approach as envisaged by the Prime Minister. It aims at empowering all those who are under-privileged and belong to marginalised sections of society. ECC has approved the Kamyab Pakistan Programme in its meeting held on July 16.
Finance Minister Shaukat Tarin commended all concerned who made great efforts in designing the whole programme and taking it forward towards its formal launch which is scheduled soon.
