Federal Minister for Finance and Revenue, Mr Shaukat Tarin, chaired a meeting of the Steering Committee and Advisory Board of the Kamyab Pakistan Program (KPP) through a video link.
SAPM on Finance and Revenue Dr Waqar Masood, SAPM on Youth Affairs Mr Usman Dar, RSPN chairman Mr Shoaib Sultan, secretary Finance Division Mr Yusuf Khan, Akhuwat executive director Dr Amjad Saqib, PMN CEO Mr Mohsin Ahmed, NRSP CEO Mr Rashid Bajwa, HBL chairman Mr Sultan Ali Allana, BOP president Mr Zafar Masud, Kashaf Foundation MD Ms Roshaneh Zafar, SBP ex-Governor Syed Salim Raza and other senior officers participated in the meeting.
The meeting was held to fine-tune the modalities of the Kamyab Pakistan Programme (KPP) scheduled to be launched soon. The Finance Minister welcomed the prominent participants from the private sector and commended their professional expertise in their respective fields. He thanked them for their valuable input regarding Kamyab Pakistan Program and reiterated to ensure successful implementation of KPP through a collaborative and cohesive approach.
The Finance Minister further stated that the KPP aims to uplift 4.5 million underprivileged households registered with the National Socio-Economic Registry (NSER) of the Ehsaas program. The KPP is a flagship program that shall extend micro-loans to entrepreneurs, small businessmen, and farmers to access micro-credit at 0% mark-up without collateral. The program will enable underprivileged families to break the vicious cycle of poverty, he added.
The Kamyab Pakistan Program aims to extend agricultural loans to farmers with landholding up to 12.5 acres under the “Kamyab Kissan” scheme. Micro-loans would be extended up to Rs150,000 (per crop) for the procurement of agricultural inputs. In addition, loans up to Rs200,000 would be given for the procurement of machinery and equipment. Another component of the KPP is introducing a new tier in Naya Pakistan Low-Cost Housing Scheme wherein loans of Rs.2.7 million (for NAPHDA) and Rs.2 million (for Non-NAPHDA) projects will be given at subsidized rates.
Similarly, under “Kamyab Karobar”, loans shall be extended for small businesses and start-ups at 0% mark-up in both urban and rural areas. Dairy, Livestock, Poultry and Fisheries sectors will be included. The loan size is up to Rs. 500,000 for Kamyab Karobar. The cumulative disbursement under the program would be Rs.1.6 trillion over 03 years.
KPP will also integrate with the government’s ongoing skill development program for educational and vocational training under the ‘Kamyab Hunarmand’ scheme.
The Finance Minister appreciated the motivation and commitment of all concerned who are making utmost efforts to design the whole program and take it forward towards its formal launch to benefit the marginalized segments of society.