The Economic Coordination Committee (ECC) of the federal cabinet has approved the Kamyab Overseas Program (KOP) to extend a loan facility to the Pakistani serving abroad. The initiative is a new component of the Kamyab Pakistan Program (KPP).
According to details, the maximum loan amount would be Rs. 300,000, which could be returned in easy installments starting after three months of departure.
As many as 10,180 people are expected to benefit from the program, which requires estimated funds of Rs. 3 billion for the 4th quarter of 2021-22.
Federal Minister for Finance and Revenue, Shaukat Tarin, presided over the ECC meeting in Islamabad on Monday. The meeting was attended by the Federal Minister for National Food Security and Research, Syed Fakhar Imam, Federal Minister for Railways, Muhammad Azam Khan Swati, Federal Minister for Energy Hammad Azhar, Federal Secretaries, and senior officers.
The Kamyab Overseas Program is meant for prospective low-income overseas workers having confirmed foreign job offers, employment agreements, and valid travel documents. Besides, it is for those registered with the National Socio-Economic Registry (NSER) to avail themselves of interest-free loans under the program.
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