PM launches Rs407bn interest-free loans mega programme

No-trust move: PM Imran to address nation today

ISLAMABAD: Prime Minister Imran Khan on Thursday launched the country’s mega interest-free loan programme worth Rs 407 billion, saying the step would contribute towards making low-income groups financially self-reliant.

He was addressing the launch of disbursement of interest-free loans under Kamyab Pakistan Programme during a ceremony at Faisal Mosque where a large number of people from low-income groups had gathered. The prime minister said loans worth Rs1,000 billion will be provided to 4.5 million deserving households by next year to lift them out of poverty and enable them earn their livelihoods.

The prime minister said that loans to the tune of Rs2.5 billion have already been disbursed under the program. He said Kamyab Pakistan Programme aimed at taking the country towards a welfare state will be further expanded.

PM Imran Khan said Kamyab Pakistan Program envisages interest-free loans of Rs500,000 for businesses, 350,000 rupees for the farmers and two million rupees for the construction of houses. He said technical training will also be provided to one member of each deserving family in order to help them stand on their own feet.

He said the national health insurance programme launched by the government would help expansion of medical set up in public and private sector across the country. He said providing free medical treatment worth one million rupees to every household annually was a proud step taken by his government. He said that all the tax money collected by the government would be spent on the welfare of general public.

PM Imran Khan regretted that Pakistan in the past could not achieve its due place in the comity of nations because it did not pursue the ideology for which it was created. He noted that the nations which forget their ideology never succeed.

The prime minister said he is inaugurating Rahmatul-lil Alameen Authority tomorrow and the aim is to acquaint our youth with the life and teachings of Hazrat Muhammad (Peace be Upon Him).

He said Pakistan had been envisioned as a socio-welfare country in line with the golden principles of Islam’s first State of Madinah but regrettably deviation from this ideology led the country to face several challenges regarding the well-being of common man.

Prime Minister Imran Khan also expressed satisfaction over the record revenue collection made by the FBR saying it is because of enhanced revenue, the government was able to reduce the prices of petrol and diesel and the electricity tariff.

Finance Minister Shaukat Tarin, on the occasion, highlighted the key features of Kamyab Pakistan Programme which was in line with the vision of a socio-welfare state. He said interest-free loans besides the technical training would enable the low-income group to earn their livelihood.

Chairman Akhuwat Foundation Dr Amjad Saqib said his organization had been disbursing interest-free loans to deserving for last 22 years. He said in collaboration with the government, Akhuwat Foundation on the occasion would provide interest-free loans worth Rs one billion to 7,000 households and expressed confidence that the programme would contribute to poverty alleviation.

During the said period, the government will provide a subsidy of Rs 56 billion for the purpose, he added. The key objective of the Kamyab Pakistan Programme is to provide relief to the low-income group and increase economic growth.

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