The federal Minister for Finance and Revenue, Shaukat Tarin, held a meeting with the Special Assistant to the Prime Minister (SAPM) on Social Protection & Poverty Alleviation, Dr. Sania Nishtar, at the Finance Division today.
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The SAPM commended the Kamyab Pakistan Program (KPP) for providing relief to the underprivileged segments of society through better financial empowerment opportunities and affirmed full support and facilitation on the occasion.
Minister Tarin stated that the KPP is based on the concept of a “bottom-up” approach as envisaged by the Prime Minister. Its beneficiaries will enjoy easy access to agricultural and business loans at zero-mark up without collateral.
Moreover, the KPP will provide a low-cost housing scheme for lower-income groups, enabling them to own houses. Thus, it will promote financial inclusion.
Furthermore, the proposed program is one of the largest of its kind in the world.
It will also bring at least three million families out of the vicious cycle of poverty within the next three to five years, with Rs. 1,600 billion to be disbursed through different products of KPP, Minister Tarin added.
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He also gave a briefing about the basic parameters of the KPP and underlined that the NSER of the Ehsaas program is the premise on which the whole program is based and shall ensure transparency in the disbursement of funds and provision of microloans to the targeted households accurately.
During the meeting, Minister Tarin informed the SAPM that the prospective beneficiaries will only be accessed through the Ehsaas NSER database for the sake of transparency.