Govt to give Rs56 billion subsidy on interest-free loans of Rs407 billion: Farrukh

ISLAMABAD: Minister of State for Information and Broadcasting Farrukh Habib on Wednesday said the government, under its flagship initiative of the Kamyab Pakistan Programme, would disburse interest-free loans worth Rs 407 billion among youth, women, and farmers in the next two years.

In a series of tweets, Farrukh said the government would give a subsidy of Rs 56 billion on such loans aimed at enabling the people to build homes and start their businesses.

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Prime Minister Imran Khan, he said, was scheduled to launch the loan disbursement scheme on Wednesday (today) under the Kamyab Pakistan Programme in line with his vision of poverty alleviation.

People with meager resources, the minister said, would get loans amounting to Rs 500,000 to start their businesses and up to Rs 2.7 million for house building through micro-finance institutions, including Akhuwat Foundation.

Earlier, Habib had said the relief package announced by Prime Minister Imran Khan would help reduce the burden of inflation on the people.