K-P set to release Rs8b for Ehsaas initiatives

Khyber-Pakhtunkhwa Chief Minister Ali Amin Khan Gandapur announced the government will release Rs8 billion for the Ehsaas initiatives in the current fiscal year, with Rs2 billion earmarked for interest-free loans under each of four flagship programs.

A high-level meeting regarding Ehsas flagship projects in the province was held here at Chief Minister's Secretariat with Khyber-Pakhtunkhwa CM Ali Amin Khan Gandapur in the chair.

The meeting reviewed the progress on four major programmes being implemented under Ehsas initiative in the province. These programmes include Ehsaas Nojawan, Ehsaas Hunar, Ehsaas Rozgar, and Ehsaas Apna Ghar (Low cost housing project).

During the meeting, a detailed briefing was given on the progress, so far made of the programs. It was informed that under Component-I of the Ehsaas Nojawan Program, being implemented through the Bank of Khyber, Rs408 million in interest-free loans have been distributed among 139 beneficiaries, utilizing 100% of the allocated funds. An additional Rs116 million is required for 52 more approved cases under the same component.

Meanwhile, Component-II of the Ehsaas Nojawan Program, implemented through Akhuwat Microfinance, has also achieved 100% disbursement of its allocated funds. So far, Rs602 million in interest-free loans have been disbursed among 3585 beneficiaries, with another 1,745 applications currently under process.

It was also highlighted that Akhuwat has achieved a 100% loan recovery rate under this program, with Rs. 42.88 million recovered to date.

Under the Ehsaas Hunar Program, Rs307 million have been distributed among 647 beneficiaries, while an additional 592 cases are currently being processed.