Islamabad: The government has decided to bring a credit scheme for lower cadre non-gazetted staff and overseas Pakistanis, news sources reported. The non-gazetted staff will get loans to participate in the Naya Pakistan Housing Programme (NPHP), while non-resident Pakistanis will get loans under the Kamyab Pakistan Project (KPP).
According to reports, Prime Minister (PM) Imran Khan will launch the KPP on March 1. In this respect, State Bank of Pakistan (SBP) Governor Dr Reza Baqir would undertake meetings with banks and insurance firms to include low-income people in the NPHP programme. However, during a meeting of the Ministry of Finance, Chairman of the Naya Pakistan Housing Development Authority (NAPHDA) Anwar Ali Hyder stated that some operational and functional limitations are adversely affecting the seamless integration of the policy plans to provide houses to the low-income section of society, particularly government employees and the private salaried class. It was told that financial institutions are concerned about the borrower’s repayment capacity and the credit guarantee.
Moreover, on providing loans to the overseas Pakistanis under Kamyab Pakistan Programme, the ministry of finance asked relevant authorities and stakeholders to explore the ways by which NRPs be benefitted and provided loans for assets and businesses in Pakistan. It was said that the policy would be launched soon.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
