ISLAMABAD: Finance Minister Shaukat Tarin, on Wednesday, chaired a meeting of the Steering Committee and Advisory Board of the Kamyab Pakistan Programme (KPP) through a video-link.
The meeting was held to fine-tune the modalities of the KPP scheduled to be launched soon.
The Minister for Finance welcomed prominent participants from the private sector and commended their professional expertise in respective fields.
He thanked them for their valuable input/suggestions with reference to KPP and reiterated to ensure successful implementation of KPP through a collaborative and cohesive approach.
The Minister of Finance further stated that the KPP aimed at uplifting 4.5 million under-privileged households who were registered with the National Socio-Economic Registry (NSER) of the Ehsaas programme.
He said the KPP was a flagship programme, which shall extend micro-loans to entrepreneurs, small businessmen and farmers enabling them to access micro credit at zero percent mark-up without collateral.
The programme would enable under-privileged families to break the vicious cycle of poverty, he added.
The KPP is aimed at extending agricultural loans to farmers with landholding up to 12.5 acres under "Kamyab Kissan" scheme.
Micro-loans would be extended up to Rs150,000 (per crop) for procurement of agricultural inputs.
In addition, loans up to Rs200,000 would be given for procurement of machinery and equipment.
Another component of the KPP is introduction of a new tier in Naya Pakistan Low Cost Housing Scheme, wherein, loans of Rs2.7 million (for NAPHDA) and Rs2 million (for non-NAPHDA) projects will be given at subsidised rates.
Similarly, under "Kamyab Karobar", loans shall be extended for small business and start-ups at zero percent mark-up in both urban and rural areas.
Dairy, livestock, poultry and fisheries sectors will be included. Loan size is upto Rs500,000 for Kamyab Karobar.
The cumulative disbursement under the programme would be Rs1.6 trillion over the period of three years.
The KPP will also integrate with the government's ongoing skill development programme for educational and vocational training under "Kamyab Hunarmand" scheme.
Copyright Business Recorder, 2021