Peshawar: The Khyber Pakhtunkhwa (KP) government has officially launched the Interest-Free Ehsaas Loan Scheme, aimed at providing financial support to small businesses and individuals seeking to build homes. This initiative is a key part of the government’s efforts to create new business opportunities and combat poverty in the province.
A meeting to review the details of the scheme was held in the Civil Secretariat under the chairmanship of Advisor to the Chief Minister on Finance, Muzammil Aslam. The meeting was attended by Minister for Housing Khyber Pakhtunkhwa Dr. Amjad Ali, Special Assistant to the Chief Minister for Technical Education and Vocational Training Tufail Anjum, Secretary of Zakat Nazar Hussain Shah, and other relevant stakeholders.
The Ehsaas Loan Scheme will provide interest-free loans for small businesses and homebuilding purposes. In the first phase, a total of Rs 1 billion will be allocated, with loans of up to Rs 5 lakh available for applicants. The loans will be offered for a period of up to five years, with no interest charged.
Advisor Muzammil Aslam highlighted that the scheme’s objective is to empower the people of Khyber Pakhtunkhwa by fostering entrepreneurship and enabling homeownership. He stated that the program would generate new employment opportunities, which would play a significant role in the province’s efforts to eradicate poverty.
The Akhuwat Organization, known for its interest-free loan programs, is supporting the government in providing these loans to the public.
Aslam also instructed that all stakeholders complete their Memorandum of Understanding (MoU) for the scheme by the end of this month to ensure timely implementation. He mentioned that this interest-free loan scheme is a continuation of the loan program that was launched in 2022 by the previous KP government.
The Khyber Pakhtunkhwa government’s initiative is expected to have a positive impact on the province’s economy by providing much-needed financial assistance to those looking to start small businesses or build homes, ultimately contributing to a more sustainable and prosperous future for the people of KP.
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