Latest Updates
Update (August 31, 2022):
Government to Merge Kamyab Jawan with Kamyab Pakistan Programme
The Government of Pakistan is planning to merge Kamyab Jawan and Kamyab Pakistan Programme under one window.
The initiatives were launched under the previous regime to encourage a sustainable reduction in poverty through the creation of more employment opportunities and the extension of microloans to small businesses and entrepreneurs.
According to the reports published by a leading English daily, Federal Minister for Finance Miftah Ismail said the Prime Minister’s Office will head the collective under the leadership of the Special Assistant to Prime Minister (SAPM) on Youth Affairs. He also added that the Finance Division aims to support this programme by allocating a greater amount of funds to the victims of the current flood crisis in Pakistan.
Update (March 02, 2022)
Prime Minister of Pakistan Imran Khan has officially launched an interest-free loan programme to make “low-income groups financially self-reliant” under the Kamyab Pakistan initiative. The scheme, which is worth PKR 407 billion, will help 4.5 million families across the country construct homes, set up small businesses, start farming, and obtain technical education.
Addressing a ceremony at Faisal Mosque in Islamabad, the premier said the government has so far disbursed PKR 2.5 billion among the low-income groups under different welfare programmes. He added that banks had also given PKR 55 billion in loans under the housing schemes inaugurated by his government.
With plans to expand this programme, the PM said the federal government will provide 0.5 million to families in urban areas so they can start a business. Meanwhile, those residing in rural areas will receive loans of PKR 0.3 million to buy agricultural land or farming equipment. The government will also provide loans of PKR 2 million to facilitate the construction of houses under the Kamyab Pakistan initiative.
Update (October 4, 2021)
Prime Minister Imran Khan inaugurated ‘Kamyab Pakistan Programme.’ Under this initiative, PKR 1.4 trillion soft loans will be provided to 3.7 million families across the country. Continue reading for more details.
The incumbent government in Pakistan is working to introduce a number of pro-people initiatives that can have a positive impact on people’s lives. The main idea behind such campaigns is to provide incentives that will make citizens self-sufficient in providing for themselves. This means that the policies being introduced aim to create sustainable models of development through active participation by the people themselves. These initiatives have been introduced under the Kamyab Pakistan Project. Let’s explore these initiatives in detail.
Kamyab Pakistan Project
Kamyab Pakistan is a flagship project of the government of Pakistan that aims to extend microloans to entrepreneurs, small businesses, and farmers. The government has allocated a budget of PKR 1.6 trillion.
Let’s look at the details of the project:
- Under the project PKR 50,000 per month to people registered under the Ehsaas Programme with the National Socio-Economic Registry (NSER).
- The disbursements will be done for a period of 3-5 years.
- The project will benefit 3,000,000 families
- The Kamyab Pakistan Project works through various Banks, DFIs, PMRC, and the Microfinance Banks & Institution/Housing Finance Companies.
The Kamyab Pakistan Project is a policy mechanism in its own right that is working for the socio-economic uplift of the people. Under this program, a number of other initiatives have been introduced which will impact different sectors of society.
Kamyab Kissan Programme
The Kamyab Kissan Programme aims to provide agricultural loans to farmers with land holdings up to 12.5 acres. These microloans of up to PKR 150,000 (per crop) would be extended for the procurement of agricultural inputs to boost productivity. In addition, loans up to Rs200,000 would be given for machinery and equipment at a zero mark up rate.
Apart from loans, Kamyab Kissan Programme is a dynamic project that aims to impart technical expertise to the farmers so that they can better contribute towards the agricultural sector, in the face of scarce resources. This is because under the Second Phase of the China Pakistan Economic Corridor (CPEC), the government is working to revive activities in various sectors, especially agriculture. Time and again the incumbent prime minister, Imran Khan has also apprised the citizens that agriculture is Pakistan’s economic backbone, and therefore, its growth is integral for rejuvenating activity. Similarly, Kisan Cards will also be issued to the farmers, and the registered farmers will then be given financial incentives.
Naya Pakistan Low Cost Housing Scheme
The Naya Pakistan Housing Programme (NPHP) is a low-cost housing project that also offers zero-markup housing loans as well. This is the biggest project in Pakistan’s history that is aimed at housing vulnerable groups in society, because of the economic benefits of low-cost housing. Under this program, two kinds of loans have been given; PKR 2.7 million for Naya Pakistan Housing and Development Authority (NAPHDA), and PKR 2 million for non-NAPHDA projects. The time frame for these easy-instalments loans is up to 20 years.
These are the projects that are primarily aimed at providing financial assistance, however, there is one other, Kamyab Jawan Program that is a bit different.
Kamyab Karobar
Under this initiative, loans of up to PKR 500,000 will be given to businessmen for setting up businesses of dairy, livestock, poultry and fisheries. The idea under this is to include more startups in these sectors and to incentivize them by providing loans at zero markup rate.
The Bank of Alfalah and the Bank of Punjab have been designated as the banks for borrowing money.
Kamyab Jawan Program
Under the Kamyab Jawan Program, the government is working to provide opportunities for the youth of the country. The project aims at creating employment opportunities for the youth through numerous programs. This isn’t a job creation program, but a technical skills development one.
As per the details, 170,000 scholarships have been allocated for skill development, whereas an additional 50,000 scholarships will be awarded for hi-tech skills, which include big data and artificial intelligence.
Youth can apply through various programs, such as:
- Startup Pakistan Programme
- Youth Entrepreneurship Scheme
- Hunarmand Pakistan (Skills for All) Programme
- Youth Engagement Platform
- Green Youth Movement
- National Internship Programme
These are all the programs being introduced under the Kamyab Pakistan Project, which is expected to be launched next month. As details are issued, we will keep updating our information. For the latest updates, keep checking Pakistan’s largest property blog, Zameen Blog. Also, for any queries, write to us at blog@zameen.com.
