Provision of interest free loans to decrease poverty: CM Balochistan

QUETTA: Balochistan Chief Minister Jam Kamal Khan on Tuesday said the provincial government was taking measures to facilitate small business through the provision of interest free loans.

He said such positive steps would alleviate poverty and establish an interest free society that would boost economic activities on a small scale.

Chief Minister expressed these views in a high-level meeting in which the ongoing plans of the Chief Minister's Socio-Economic Initiative and especially the proposed plans for the financial year 2020-21 were reviewed.

Finance Secretary Noor-ul-Haq Baloch briefed the meeting about the socio-economic development projects.

Provincial Minister for Finance Mir Zahoor Ahmed Buledi, Additional Chief Secretary Planning and Development Abdul Rehman Buzdar and Secretary Labor and Manpower Saira Attah were also present in the meeting.

Balochistnan Secretary Finance informed the meeting that an Emergency Loan Scheme at a cost of Rs 550 million has been introduced in the light of the directive of the Chief Minister which was being implemented in partnership with the contribution of Akhuwat Foundation.

Under this scheme so far 14765 people have been provided interest free loans and Rs 295 million had been spent in this regard which was acknowledged by Akhuwat Foundation.

The meeting was informed that Rs 2 billion has also been allocated for the Chief Minister's interest free loan scheme during the year 2020-21.

The interest free loan would be provided to 100,000 unemployment youth so that they would be able to start their own business on a small scale, the Finance Secretary said, adding that the launch of a self-reliant employment scheme to end unemployment in line with the chief minister's vision would have a positive impact on the society, health under the provincial health insurance scheme.

Briefing about the issuance of the card, it was informed that the purpose of this scheme was to provide better health facilities to the people and to strengthen the health sector for which Rs1000 million had been allocated.

It was decided in the meeting that the scheme under the first phase, health cards would be issued to 300,000 employees of the provincial government and the scheme will be gradually extended to the general public.

The meeting was also informed about the scheme of providing loans for setting up of private sector hospitals at the district level with the objective of providing private sector assistance to the public in the health sector.

The meeting was also briefed about the details of the scheme of providing Rs 500 per month stipend to the girls studying in the schools to increase the education rate of girls for which Rs. 1 billion had been allocated.

The consultation was also informed about the Chief Minister's Innovation Challenge Fund for IT Professionals and financial support programs for agribusiness.

The meeting also discussed the usefulness of the proposed economic and social development programs.

However, the Finance Department was directed to conduct a comprehensive study of these schemes and make recommendations for their implementation through third parties.

The meeting also decided that provision of training at the district level for the promotion of the skills program at the establishment of centers, technical training in high schools to introduce the departments for the interest of the students.