‘Kamyab Jawan’ Program funding to be finalized

June 5, 2021

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Finance Minister Shaukat Tarin chaired the second meeting to discuss and develop the institutional framework for financing the Kamyab Jawan Program where he instructed to finalize the institutional framework for inclusion in upcoming budget.

It was notified during the meeting that National Bank and Bank Al Habib have so far received nearly 200,000 applications.

The government intend to provide interest -free loans to lower categories of borrowers under the Kamyab Jawan Program.

The official added that the amount of support required for the program has not yet been determined by the government.

The meeting was also attended by the Prime Minister’s Special Assistant for Youth Osman Dar, SAPM for Finance and Revenue Dr. Waqar Masoud, Executive Director of Akhuwat Foundation, heads of National Bank of Pakistan, Punjab Bank and Habib Bank Limited, chairman NayaPakistan Housing and Development Authority.

Earlier, the Finance Minister considered in detail the proposals prepared by the State Bank of Pakistan (SBP), Punjab Bank and Akhuwat Foundation.

The measures are designed to accelerate the provision of subsidized loans to agriculture, low -cost housing and small businesses to generate employment and promote growth.

The meeting also discussed the role of microfinance institutions, commercial banks and rural support programs, and emphasized their role as partner institutions in achieving the objectives of the program.

There was also discussion about the eliminating the age limit for loan eligibility, so that all segments of society can benefit from the Kamyab Jwan program.