KP Launches New Phase of Rs. 1 Million Interest-Free Loans for Youth

The Khyber-Pakhtunkhwa (KP) government is initiating the second phase of the Insaf Rozgar Scheme, which will provide youngsters with loans of up to Rs. 1 million to help them establish their own businesses. This was revealed at a meeting of the Khyber-Pakhtunkhwa Planning and Development department, presided over by Additional Chief Secretary, Shakeel Qadir. The initiative would cost Rs. 700 million to the provincial treasury. In a statement made on Tuesday, KP’s Minister for Finance, Taimur Jhagra, stated that the provincial government was doing everything possible to provide opportunities for the young generation of the merged districts, including an interest-free loan. He indicated that the Bank of Khyber (BoK) will shortly share the ads and that the initiative would assist the youth to become self-sufficient. KP Chief Minister, Mahmood Khan, remarked that interest-free loans for the province’s youth will encourage entrepreneurial spirit. The interest-free loans would be made available to low-income, unemployed men and women under certain circumstances. Taimur stated that it was a fantastic chance for all KP citizens to take out loans and establish their own businesses wherever in the country. The KP government introduced the Insaf Rozgar Scheme in 2019, and in 2020 it granted Rs. 0.5 billion as a part of the scheme for the newly merged tribal districts.