Usman terms transparency, merit as cornerstones of Kamyab Jawan loan programme

PESHAWAR: Special Assistant to the Prime Minister on Youth Affairs, Usman Dar Tuesday termed transparency and merit as cornerstones of the Kamyab Jawan loan programme.

Addressing a news conference after distributing the Kamyab Jawan Programme cheques among the beneficiaries through Bank of Khyber here at Sarhad Chamber of Commerce and Industry (SCCI), he informed that the second phase of the prgoramme would be inaugurated by Prime Minister Imran Khan on August 12.

Usman Dar was accompanied by Khyber Pakhtunkhwa (KP) Minister for Finance, Tamir Saleem Jhagra and Special Assistant to the Chief Minister KP on Industry, Abdul Karim Khan.

SCCI President Engineer Maqsood Anwar Pervaiz, Bank of Khyber Managing Director Ihsan Khan Ishan, SCCI Executive members Kamran Khan Zeb, Ihsanullah Khan, Sherbaz Bilour, SCCI standing committee on Youth Affairs Chairman Sanan Sethi, SCCI former vice president, Abidullah Yousafzai, Faiz Rasool, Saddar Gul and others were also present on the occasion.

The special assistant apprised that around 90,000 youth applied for the programme in Khyber Pakhtunkhwa, which was a great manifestation of trust on the incumbent government initiative for youth self-employment generation, and approximately loan of Rs. 1billion under the scheme was approved in the province.

Around eight to 10 thousand youth had benefited from the scheme under the first phase in KP, Dar said.

He said under this programme, applications had been scrutinized on the basis of transparency, merit and de-politicization.

"The loans had been approved through a transparent mechanism and on merit,” he reiterated. Usman Dar asked Khyber Pakhtunkwha youth to come up with a better business plan to attain loans under the scheme.

“This is not a grant or financial assistance but loans are being provided to youth for business purposes," the prime minister aide clarified.

A total 954 cases had been approved by the Bank of Khyber, amounting Rs341million in Khyber Pakhtunkhwa, while Rs. 247million had so far distributed to 740 customers under the scheme, he added.

He said the employment ratio had increased because of the COVID-19 crisis.

He said the markup rate for the Kamayab Jawan Scheme had been reduced while keeping in view the current scenario.

Responding to queries, Usman Dar said the cases of COVID-19 had been reduced significantly because of strict enforcement of policies and cooperation of the business community.

He expressed the hope that the economy would soon stabilize in the country.

He called upon the provincial government to take steps to resolve genuine reservations and problems of the business community.

Speaking on the occasion, KP Finance Minister Taimoor Jhagra said the Kamyab Jawan Programme got a great feedback in the province.

He also held out assurance of taking review over demand of business community regarding opening of markets on Saturdays and Sundays.

He said the government was taking strict measures for containment of coronavirus on Eid-ul-Azha and after passage of the festival would give consideration of demands of business community.

He appreciated cooperation and support extended by business community to the government in handling of corona crisis and said despite a lot of difficulties, the response of businessmen was very commendable.

Special Advisor to the KP Chief Minister on Industries, Abdul Karim Khan also highlighted the significance of the Kamyab Jawan Programme.

He said business community had faced huge financial losses due to COVID-19 crisis and assured that the government would take decision after Eid-ul-Azha to allow businesses to operate 24/7 in the province.

Earlier in his welcome address, SCCI President Engineer Maqsood Pervaiz urged the provincial government to allow businesses to operate on Saturdays and Sundays.

Appreciating the government for launching the soft loan scheme for youth, SCCI chief said self-employment was pivotal for making youth economically powerful and self-reliant.

He called for reduction in loan markup of the Kamayab Jawan Programme.