The federal cabinet’s Economic Coordination Committee (ECC) has authorized the Kamyab Overseas Program (KOP), which will provide a lending facility to Pakistanis serving abroad. The program’s new component is the Kamyab Pakistan Initiative (KPP).
According to the specifics, the maximum loan amount would be Rs. 300,000, which could be paid back in three monthly payments beginning three months after departure.
The initiative, which requires Rs. 3 billion in funding for the fourth quarter of 2021-22, is expected to assist up to 10,180 persons.
Shaukat Tarin, the Federal Minister of Finance and Revenue, presided over the ECC meeting in Islamabad on Monday.
Federal Ministers for National Food Security and Research Syed Fakhar Imam, Muhammad Azam Khan Swati, Federal Minister for Railways Muhammad Azam Khan Swati, Federal Minister for Energy Hammad Azhar, Federal Secretaries, and top officers attended the meeting.
The Kamyab Overseas Program is for low-income overseas workers who have secured foreign job offers, signed employment agreements, and have valid travel permits.
Furthermore, it is for people who have registered with the National Socio-Economic Registry (NSER) to take advantage of the program’s interest-free loans.
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