The Khyber Pakhtunkhwa (KP) government has introduced an interest-free loan facility for its employees in a bid to provide financial relief and support their welfare.
The scheme will benefit provincial employees from grades 1 to 17, offering them the opportunity to access funds for essential needs without the burden of interest.
According to official sources, a total of Rs 340 million has been earmarked in the current fiscal year’s budget to finance this initiative.
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Out of this, Rs 100 million has been set aside specifically for employees of the provincial secretariat, while the remaining Rs 240 million will cater to other government staff across various departments.
The loan facility has been structured to meet different requirements of employees. For instance, government workers will be able to avail up to Rs 200,000 as a car advance, enabling them to purchase vehicles on manageable terms.
Similarly, employees looking to construct or purchase a house will have access to a housing advance of up to Rs 250,000. Repayments will be made through easy installments deducted from salaries, ensuring minimal financial strain.
