KPP to uplift 4.5m households: Tarin

Minister says micro loans to be given to entrepreneurs, small businessmen and farmers

ISLAMABAD:

Finance Minister Shaukat Tarin on Wednesday said Kamyab Pakistan Programme (KPP) was targeted to uplift 4.5 million under-privileged households registered with the National Socioeconomic Registry (NSER) of the Ehsaas programme.

The minister virtually chaired a meeting of the steering committee and advisory board of the KPP to fine-tune the modalities of the programme.

Tarin said the KPP was a flagship programme for extending micro loans to entrepreneurs, small businessmen and farmers. This will enable them to access micro credit at 0% mark-up without collateral.

“The programme will enable under-privileged families to break the vicious cycle of poverty,” he added.

The minister appreciated the motivation and commitment of all those making utmost efforts in designing the whole programme and taking it forward towards its formal launch to benefit the marginalised segments of the society.

He welcomed the prominent participants from the private sector and commended their professional expertise in their respective fields.

Tarin thanked them for their valuable input and suggestions with reference to KPP and reiterated to ensure successful implementation of the programme through a collaborative and cohesive approach.

The KPP is aimed at extending agricultural loans to farmers with landholding of up to 12.5 acres under the “Kamyab Kissan” scheme.

Micro loans would be extended up to Rs150,000 (per crop) for procurement of agricultural inputs.

In addition, loans up to Rs200,000 would be given for procurement of machinery and equipment.

Another component of the KPP is the introduction of a new tier in Naya Pakistan Low-Cost Housing Scheme. Loans of Rs2.7 million for Naya Pakistan Housing and Development Authority projects (NAPHDA) and Rs2 million for other projects would be given at subsidised rates.

Similarly, under “Kamyab Karobar”, loans would be extended for small business and start-ups at 0% mark-up in both urban and rural areas.

Dairy, livestock, poultry and fisheries sectors will be included in the scheme. The loan size is up to Rs500,000 for Kamyab Karobar.

The cumulative disbursement under the programme would be Rs.1.6 trillion over three years.

The KPP will also integrate with the government’s ongoing skill development programme for educational and vocational training under ‘Kamyab Hunarmand’ scheme.

SAPM on Finance and Revenue Dr Waqar Masood, SAPM on Youth Affairs Usman Dar, RSPN Chairman Shoaib Sultan, Finance Division Secretary Yusuf Khan, Executive Director Akhuwat Dr Amjad Saqib, PMN CEO Mohsin Ahmed, NRSP CEO Rashid Bajwa, HBL Chairman Sultan Ali Allana, BOP President Zafar Masud, Kashaf Foundation MD Roshaneh Zafar, former SBP governor Syed Salim Raza and other senior officers participated in the meeting.