PM to Launch Disbursement of Interest-Free Loans Under Kamyab Pakistan Program on Wednesday

Prime Minister Imran Khan will launch the disbursement of the interest-free loans under the Kamyab Pakistan Program (KPP) on Wednesday. Sources confirmed that Prime Minister Imran Khan will attend the cheque distribution ceremony and the nationwide launch of the Kamyab Pakistan Program at 10:30 am tomorrow (Wednesday) at Faisal Mosque, Islamabad. Federal Minister for Finance and Revenue Shaukat Tarin will also attend the ceremony alongside other senior officials. The Kamyab Pakistan Program is part of the Prime Minister’s vision for poverty alleviation. Through the flagship program, the government aims to provide loans to the tune of Rs. 407 billion and subsidy amounting to Rs. 56 billion for the next two years. The primary objective of the Kamyab Pakistan Program is to help the people of the low-income group and foster economic growth in Pakistan. To recall, the government in 2021 launched the Kamyab Pakistan Program (KPP) to provide subsidized microloans to small businesses, the agriculture sector and the housing sector. Under the program, commercial banks/ Development Financial Institutions (DFIs), referred to as Wholesale Lenders (WLs), will provide liquidity to Executing Agents (EAs) i.e. Microfinance Providers (MFPs) and Housing Finance Companies (HFCs) for onward lending to borrowers. Microfinance providers include Microfinance Banks (MFBs), Microfinance Institutions (MFIs), and Rural Support Programs (RSPs). In principle, KPP has three components related to financing i.e. (i) Kamyab Karobar (ii) Kamyab Kissan, and (iii) Naya Pakistan Low-Cost Housing (NPLCH). MFPs will extend financing under all three components of KPP, whereas HFCs will only extend financing under the NPLCH component.