Kamyab Pakistan Programme to revolutionise low-income segment: Tarin
ISLAMABAD: The Kamyab Pakistan Programme (KPP) would bring about revolution in the low-income segment of population by helping the poor earn respectable livelihood and stand on their own feet, a senior government official said on Monday.
Addressing the launching ceremony of Kamyab Pakistan Programme, Federal Minister for Finance and Revenue Shaukat Tarin said that Rs1.4 trillion would be provided to 3.7 million households during the next five years, adding that the target would be taken up to six million households in future.
The welfare of the poor was the priority of the government and that was why it had introduced a ‘bottom-up approach’ to lift them out of poverty, he said.
This was the first government to introduce the “bottom-up approach” to overcome income disparity, he said, adding that even this approach was being utilised by the United States to bridge widening income gaps.
The promises were made during the last 72 years for uplifting the poor; however, these were never fulfilled, the finance minister said, adding that the credit goes to the government to introduce this strategy to make the lives of the common man better and make Pakistan a welfare state.
Tarin said that under the Kamyab Kissan Programme, the government would provide interest-free loans of Rs150,000 to farmers for each crop and Rs300,000 for two crops, whereas they would be given Rs200,000 loans for agriculture mechanisation.
Under Kamyab Karabor Programme, the government would also provide Rs500,000 interest-free loans to each household for three years for establishing business to earn respectable livelihood, he said, adding that the loans would be provided through various microfinance banks and non-governmental organisations (NGOs), which have experience of working at micro level, providing small loans for the last 40 years and have 99 per cent recovery rate.
The provision of interest-free loans to farmers and businesses would be a joint venture of big commercial banks and microfinance institutions; wherein, the commercial banks would provide wholesale loans to microfinance institutions, which would be disbursing them on a retail basis to the people. This was a unique formula, he said.
Tarin said that unlike in the past, when the people had to go after banks to get loans, now the banks would come to their doorsteps, adding that the loans are being provided to the people who had no access to them or had to borrow from a middleman on higher rates. “We are rescuing these people,” he added.
The minister said the government has also introduced Sehat cards for Sehatmand Pakistan, which would be provided to every household.
Under the Kamyab Hunarmand Programme, he said, one person of each family would be provided employable technical training.
The minister appreciated the efforts of all those who have worked hard in preparing the Kamyab Pakistan Programme. In the past, the governments would be working on trickle-down effect strategy, which had remained ineffective in providing relief to the poor; however, the bottom-up approach would directly help uplift them out of poverty.
The minister underlined the need for the continuation of economic policies to ensure sustainable growth.
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