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Business & Finance

Pakistan to launch soft loan scheme for Overseas Workers

  • Under the initiative, soft loans will be provided to the labourers and the overseas Pakistanis returning from foreign countries so that they could set up their own businesses.
03 May 2021

In a bid to facilitate overseas workers to setup their businesses in Pakistan, the government is planning to launch a ‘Kamyab Mazdoor’ project under the banner of Prime Minister’s Kamyab Jawan Programme.

Special Assistant to the Prime Minister (SAPM) on Overseas Pakistanis and Human Resource Development (OPHRD) informed that under the initiative, soft loan will be provided to the labourers and the overseas Pakistanis returning from foreign countries so that they could set up their own businesses.

Zulfikar Bukhari said the present government had already increased the pension of the Employees Old-Age Benefits Institution’s (EOBI) pensioners twice, hinting at a further raise in the insured persons’ annuity.

The SAPM said all-out efforts would be made to bring the EOBI’s pensioners pension at par with minimum wage by transforming the organization into a profitable and vibrant entity, adding he would take a review in December this year for further increase in the annuity.

He said the initiative was very close to Prime Minister Imran Khan’s heart as he had been a strong proponent of ameliorating socio-economic conditions of the poor people.

He also mentioned his future plan of including informal labourers and overseas Pakistani workers in the EOBI’s pension net. It would enable the informal workers such as tailors and vendors to become registered pensioners of the EOBI through submission their contributions.

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