ISLAMABAD: The government will disburse Rs1.63 trillion over the next three years under the Kamyab Pakistan Programme (KPP) which will benefit over three million families.

These figures were finalisedin an extensive consultative meeting presided over by Finance Minister Shaukat Tarin, which made this programme one of the largest of its kind in the world.

Loans will be offered to families with a cumulative average monthly income of less than Rs50,000 with priority to be given to beneficiaries of Ehsaas programme registered with the National Socio-Economic Registry (NSER).

The micro loans will be disbursed under a wholesale arrangement between banks/development finance institutions/Pakistan Mortgage Refinance Company and the microfinance banks and institution/housing finance companies.

Families registered with National Socio-Economic Registry to be given priority

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

Similarly, loans shall be provided for small businesses and start-ups at zero per cent markup in both rural and urban areas under ‘Kamyab Karobar’. Loan size is upto Rs500,000 and repayment will be in easy installments. Dairy, livestock, poultry and fisheries sectors are also included in these programmes.

Kamyab Pakistan is a flagship programme which would extend micro loans to entrepreneurs, small business and farmers at zero per cent markups without collateral. The key focus is to provide loans to households in the lowest strata, registered with the NSER of the Ehsaas Programme.

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 Naya Pakistan Housing and Development Authority (NAPHDA) and Rs2 million (for non-NAPHDA) projects will be given at highly subsidised rates for a maximum of 20 years and a minimum of five years.

The Kamyab Pakistan Programme reflects the firm commitment of the government to pursue pro-people agenda and develop Pakistan into a welfare state in line with the principles of Riasat-i-Madina.

It will also integrate with government’s ongoing skill development programme for educational and vocational training under ‘Kamyab Hunarmand’ scheme and provincial initiative of Sehat Insaf Card.

The Kamyab Pakistan Programme has been designed to foster ‘Bottom-up’ approach as envisaged by Prime Minister Imran Khan, with an aim to empower all those who are under-privileged and belong to marginalised sections of the society. The Economic Coordination Committee of the federal cabinet approved the Kamyab Pakistan Programme in its meeting on July 16.

Published in Dawn, July 18th, 2021