The government has decided to give Rs1.6 trillion to Kamyab Pakistan programme in the next three years to uplift under-privileged population of the country.

Federal Minister for Finance and Revenue Shaukat Tarin stated that an extensive consultative process was followed in working out modalities of the Kamyab Pakistan programme ensuring that all relevant stakeholders are on board.

Kamyab Pakistan is a flagship programme which shall extend micro-loans to entrepreneurs, small business and farmers at 0% mark-up without collateral. The key focus is to provide loans to 4.5 million households at the lowest strata, registered with the National Socio Economic Registry (NSER) of Ehsaas Programme.

The cumulative disbursement under the programme would be Rs1.6 trillion over the period of next three to five years and shall benefit three million families, which will make this programme as one of the largest of its kind in the world whereby the micro-loans will be disbursed under a wholesale arrangement between the banks, development financial institution (DFIs), Pakistan Mortgage Refinance Company, microfinance banks and institution or housing finance companies.

Under Kamyab Kissan Programme, agricultural loans shall be given to farmers with landholdings up to 12.5 acres. Micro loans would be extended up to Rs150,000 (per crop) for procurement of agricultural inputs to boost agricultural productivity. In addition, loans up to Rs200,000 would be given for machinery and equipment.

Similarly, loans shall be extended for small businesses and start-ups at 0% mark-up in both rural and urban areas under ‘Kamyab Karobar’. Loan size is up to Rs500,000 and repayment will be in easy instalments.

The third component of the scheme is introduction of a new tier titled Naya Pakistan low-cost housing scheme wherein loans of up to Rs2.7 million (for NAPHDA) and Rs2 million (for non-NAPHDA) projects will be given at highly subsidised rates for up to 20 years.

Kamyab Pakistan programme will also be integrated with the government’s ongoing skill development programme for educational and vocational training; under the ‘Kamyab Hunarmand’ scheme and provincial initiative of Sehat Insaf Card.

The programme has been designed to foster “Bottom-up” approach as envisaged by the prime minister. It aims to empower all those who are under-privileged and belong to marginalised sections of the society. The ECC has approved the Kamyab Pakistan programme in its meeting held on July 16.

Published in The Express Tribune, July 18th, 2021.

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