On Wednesday, Prime Minister Imran Khan will begin disbursing interest-free loans under the Kamyab Pakistan Program (KPP).
According to sources, Prime Minister Imran Khan will attend the cheque distribution ceremony and the nationwide launch of the Kamyab Pakistan Program tomorrow (Wednesday) at 10:30 a.m. at the Faisal Mosque in Islamabad.
Shaukat Tarin, the Federal Minister of Finance and Revenue, will also attend the ceremony, along with other senior officials.
The Prime Minister’s vision for poverty alleviation includes the Kamyab Pakistan Program. The government intends to provide loans totaling Rs. 407 billion and subsidies totaling Rs. 56 billion through the flagship program over the next two years.
The primary goal of the Kamyab Pakistan Program is to assist low-income people while also promoting economic growth in Pakistan.
To recall, the government launched the Kamyab Pakistan Program (KPP) in 2021 to provide subsidized microloans to small businesses, agriculture, and housing.
Under the program, commercial banks/DFIs, known as Wholesale Lenders (WLs), will provide liquidity to Executing Agents (EAs), which include Microfinance Providers (MFPs) and Housing Finance Companies (HFCs), for onward lending to borrowers.
Microfinance institutions (MFIs), Microfinance Banks (MFBs), and Rural Support Programs are examples of microfinance providers (RSPs).
In general, the KPP has three financing components: I Kamyab Karobar, (ii) Kamyab Kissan, and (iii) Naya Pakistan Low-Cost Housing (NPLCH).
MFPs will provide financing through all three components of the KPP, whereas HFCs will only provide financing through the NPLCH component.
To read our blog on “Kamyab Jawan Program loan limit Increased to Rs25 Million,” click here.