K-P CM announces no new tax in budget
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Khyber-Pakhtunkhwa Chief Minister Ali Amin Gandapur has announced that the provincial government would not impose new taxes this fiscal year.
Speaking about the province's financial discipline on Tuesday, Gandapur said K-P has not taken any new loans so far.
However, a significant Rs150 billion has been allocated for loan repayments, underlining the government's commitment to managing existing debt responsibly.
Highlighting development plans, the CM said the province is launching mega projects, with work already underway on the Peshawar-Dera Ismail Khan Motorway, a key infrastructure initiative aimed at improving regional connectivity.
In a bid to empower youth, Gandapur revealed that the government plans to further expand interest-free loan schemes, enabling young people to become financially self-reliant.
He also declared an "education emergency" across the province, emphasizing that improving educational standards is a top priority for his administration.
The upcoming budget will reflect the provincial government's focus on fiscal responsibility, public welfare, and long-term development, he added.
Meanwhile, the Khyber-Pakhtunkhwa government has launched a long-term interest-free microfinance scheme for entrepreneurs to support small businesses and enhance livelihoods in the merged districts.
The initiative, which spans 13 years (2021-2034), has already made substantial progress, with 66,557 individuals benefitting from the program so far, while 22,152 more are currently receiving financial support under the scheme.
The program provides interest-free loans ranging from Rs25,000 to Rs75,000, with a flexible repayment period of up to 36 months.
This structure has been designed to ensure that recipients can repay the loan in easy installments without the burden of interest, making it especially accessible for low-income and underserved populations.
The project is being implemented by the Khyber-Pakhtunkhwa Small Industries Development Board (SIDB), with a total allocation of Rs2.007 billion.
Operational execution is being carried out in partnership with Akhuwat Foundation Pakistan, one of the country's most trusted microfinance institutions.
Currently, 36 branches of Akhuwat are functioning in various merged districts, enabling local residents to apply for loans close to home. The scheme caters to a wide range of economic sectors.
Beneficiaries have used the funds to start new businesses, expand existing enterprises, purchase necessary equipment and machinery, and invest in agriculture and livestock development.
This multi-sectoral approach ensures that people from all walks of life, particularly those from rural and economically marginalized backgrounds, can benefit from financial inclusion.
Monitoring and Evaluation Officer of the SIDB, Sikandar Shah recently conducted an official visit to the Akhuwat branch offices located in Bajaur district, DI Khan and Lakki Marwat.
APP (with input from our correspondent)