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.
The meeting was held to fine-tune the modalities of the Kamyab Pakistan Programme (KPP) scheduled to be launched soon. The Finance Minister welcomed prominent participants from the private sector and commended their professional expertise in their respective fields. He thanked them for their valuable input/suggestions with reference to 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 who are 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, enabling them 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 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 Rs. 150,000 (per crop) for procurement of agricultural inputs. In addition, loans up to Rs. 200,000 would be given for procurement of machinery and equipment. Another component of the KPP is the introduction of a new tier in the 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 the period of 3 years.
KPP will also integrate with the government’s ongoing skill development program for educational and vocational training under ‘Kamyab Hunarmand’ scheme.
The Finance Minister appreciated the motivation and commitment of all concerned who are making utmost efforts in designing the whole program and taking it forward towards its formal launch to benefit the marginalized segments of the society.
SAPM on Finance and Revenue Dr. Waqar Masood, SAPM on Youth Affairs Mr. Usman Dar, Chairman RSPN Mr. Shoaib Sultan, Secretary Finance Division Mr. Yusuf Khan, Executive Director Akhuwat Dr. Amjad Saqib, CEO PMN Mr. Mohsin Ahmed, CEO NRSP Mr. Rashid Bajwa, Chairman HBL Mr. Sultan Ali Allana, President BOP Mr. Zafar Masud, MD Kashaf Foundation Ms. Roshaneh Zafar, Ex-Governor SBP Syed Salim Raza and other senior officers participated in the meeting.