Islamabad: Shaukat Tarin, Minister of Finance and Revenue, stated that the government has agreed to contribute Rs1.6 trillion to the Kamyab Pakistan programme over the next three years to help the country’s poor.
He stated that an intensive collaborative approach was used to ensure that all essential parties were on board in developing the program’s modalities.
Kamyab Pakistan is a flagship programme that would provide 0% markup micro-loans to entrepreneurs, small businesses, and farmers with no collateral. According to a news release, the main objective is to offer loans to 4.5 million low-income households enrolled with the Ehsaas Program’s National Socio-Economic Registry (NSER).
“The Kamyab Pakistan Programme represents the government’s solid commitment to pursuing a pro-people agenda and building Pakistan into a welfare state based on Riasat-e-Madina principles,” Tarin said. Over the next 3 to 5 years, the program’s total payment will be Rs1.6 trillion, benefiting 3,000,000 families, making it one of the world’s largest of its sort.
Banks, DFIs, Pakistan Mortgage Refinance Company (PMRC), micro-finance banks, and housing finance businesses would work together to disburse the micro-loans in a wholesale structure (HFCs). Farmers with landholdings of up to 12.5 acres will be eligible for agricultural loans under the Kamyab Kissan Program.
The Kamyab Pakistan Program (KPP) was created to promote the Prime Minister’s vision of a “bottom-up” approach. The KPP aspires to empower all people who are underprivileged and belong to socially excluded groups. In its meeting on July 16, 2021, the ECC approved the Kamyab Pakistan Program.
The Finance Minister praised everyone involved for their hard work in establishing the programme and getting it ready for its formal launch, which is coming up soon.