K-P unveils second phase of ‘Insaf Rozgar Scheme’

Youth to be provided loans of up to Rs1m to start own businesses

PESHAWAR:

The Khyber-Pakhtunkhwa (K-P) government is launching the second phase of Insaf Rozgar Scheme under which loans of up to Rs1 million will be given to youth to start their own business.

he scheme will cost the provincial exchequer Rs700 million. K-P Minister for Finance Taimur Jhagra, in a statement issued on Tuesday, said that despite all financial challenges, the provincial government was doing all to provide opportunities for the youth of the merged districts with interest-free loan.

He said that Bank of Khyber (BoK) would release the details and advertisements soon, adding that the youth could benefit from the opportunity. K-P Chief Minister Mahmood Khan said that interest-free loans for the youth of the province would help promote entrepreneurship.

The interest-free loans will be provided to low income, unemployed, males and females with terms and conditions. Taimur said that it was an excellent opportunity for all K-P domicile holders as they could take loans and start their own business anywhere in the country.

It is worth mentioning here that Insaf Rozgar Scheme was announced back in 2019 by the provincial government and in 2020 it released Rs0.5 billion under the Insaf Rozgar Scheme for the newly merged tribal districts (NMTDs).

This was announced during a meeting of the Khyber-Pakhtunkhwa (K-P) Planning and Development d e p a r t m e n t , w i t h Additional Chief Secretary Shakeel Qadir in the chair. The meeting decided that the total outlay for the Insaf Rozgar Scheme will be Rs1 billion under which tribal women and youth will be provided with a loan of up to a million rupees.

The meeting was informed that loans worth Rs0.9 billion have been disbursed to around 3, 512 residents of NMTDs, including women.