Prime Minister Imran Khan on Wednesday launched the Kamyab Pakistan Program to provide interest-free loan to low-income groups in the country. The interest-free loan program is worth Rs. 407 billion and it will help 4.5 million families across the country.
The announcement was made by Prime Minister Imran Khan during his address at a ceremony held at Faisal Mosque in Islamabad on Wednesday. Prime Minister Imran Khan announced the launch of the Kamyab Pakistan Program and said that the government will disburse interest-free loans to the youth, women, and farmers under this program for the next two years in a bid to reduce poverty.
Prime Minister Imran Khan said that 4.5 million families would benefit under the Kamyab Pakistan Program through the interest-free loan in order to start small businesses, construct houses, or invest in farming, get technical education and learn appropriate skills.
He added that Rs. 2.5 billion of interest-free loans had already been disbursed to the low-income groups in various schemes, while banks had also given loans worth Rs. 55 billion under the housing projects announced by the government. Furthermore, the federal government will provide loans worth Rs. 1 trillion to the above mentioned 4.5 million families by next year as the Kamyab Pakistan Program is expanded across the country.
Under the Kamyab Pakistan Program, the government will provide a family in urban areas with an interest free loan of Rs. 0.5 million in order to start a small business whereas an interest-free loan of Rs. 0.3 million will be provided to people in rural areas to spend on farming. Furthermore, the interest-free loan program will also provide Rs. 2 million to families for the construction of their houses.
According to Prime Minister Imran Khan, the Kamyab Pakistan Program through the help of interest-free loans will help the reduce poverty in the country and help make Pakistan a welfare state in line with the principles of Riyasat-e-Madina. He added that a deviation from this ideology had created several challenges for the country.
The premier talked about the national health insurance programme and the health cards being provided to citizens, saying the initiative will be expanded throughout the country and it will help improve the medical setup in public and private sectors.
He said every household will be provided free medical treatment worth Rs. 1 million every year, adding that it was a “proud step taken by his government.” Prime Minister Imran Khan also said that he will launch Rehmatul Aalmeen Authority on Thursday to teach children about the biography of the Holy Prophet (P.B.U.H).
Prime Minister Imran Khan said that the Kamyab Pakistan Program will be expanded further to provide interest-free loans to the low-income segment in order to reduce poverty, while also providing technical training to these individuals to set up their own small businesses.