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Monday, November 27, 2023

Kamyab Pakistan Programme approved for submission before the cabinet

Kamyab Pakistan Programme is set to be approved by the federal cabinet. The Pakistani premier has always stated that protecting and elevating economically vulnerable segments of the Pakistani populace remains is the topmost priority of his government. With public sector development program budget up by 61%, the government looks determined to make its mark on the political landscape of Pakstan

The Kamyab Pakistan Programme has been approved by the Economic Co-ordination Committee (ECC) for submission before the federal cabinet, a press release by the PID mentioned.

The meeting of the ECC was chaired by the Finance Minister Shaukat Tarin and was attended by Federal Minister for Planning Asad Umar, Federal Minister for Energy Hammad Azhar, Federal Minister of National Food Security & Research Syed Fakhar Imam, Federal Minister for Railways Azam Khan Swati, Minister of State for Information and Broadcasting Farrukh Habib, Federal Secretaries, Governor State Bank and other senior officers.

Read more: Empowering Pakistan’s youth: PM’s YES Scheme

The Kamyab Pakistan Programme is a flagship development programme undertaken by the incumbent government to uplift the poor and marginalized segment of the Pakistani society. KPP is composed of five initiatives which are as follows:

  1. Kamyab Karobar
  2. Kamyab Kissan
  3. Naya Pakistan low cost housing scheme
  4. Kamyab Huarmand Pakistan
  5. Sehatmand Pakistan

As a part of the first three initiatives, microcredit will be provided to eligible people registered with Ehsaas Data and through National Socio-economic Survey (NSER) and having a monthly income of fifty thousand rupees. The last two initiatives have been synchronized with the existing programmes.

In addition to this, as per the revised framework for the KPP, Banks for wholesale lending will be selected via competitive bidding. The authority to select the Micro Finance Providers (MFPs) will rest with the banks. The government has guaranteed a ten per cent first loss guarantee to the banks selected as wholesale lenders and fifty per cent guarantee to MFPs on a risk sharing basis.

Read more: Govt to launch poverty-alleviation ‘Kamyab Pakistan’ on July 29

After the cabinet’s approval, the Kamyab Pakistan Programme will be launched first in Balochistan, KP, GB and some poorest districts of Sindh and Punjab. The government aims to spread it to all of Pakistan eventually. “On the implementation side, the Kamyab Pakistan Information System (KPIS), a digital portal, is being established which is fully integrated with telecommunication companies, NTC, Ehsaas/NSER and NADRA for verification of beneficiary’s eligibility,” the press release noted.

Interest-free loans amounting to PKR.300 billion to PKR.400billion will be given in FY22. The amount has also been budgeted to provide subsidy against interest-free loans. One member from every family will be given the facility of interest-free loans to set up a business and become financially independent and similarly one member from each family will be given technical education and IT training which is learnt quickly and facilitates earning opportunities easily.

Apart from approving the KPP, a number of other decisions were made by the ECC. Finance division’s summary pertaining to the fixation of dividend at a rate of 10% on face value of SBP’s shares was approved.

Read more: Kamyab Jawan programme: UAE announced to provide $200 Million

Disbursement of salaries to the employees of the Pakistan Steel Mill for the current fiscal year was approved after the summary was presented by the ministry of industries and production. Salaries will be paid on a monthly basis till the complete implementation of the human resource retrenchment plan.

Furthermore, after being briefed by the secretary of the ministry of industries and production regarding the availability of the stocks of sugar and the measures being taken to build up strategic reserves of the commodity by importing it, the ECC ordered to import sugar in three segregated tenders of 50,000 mega tonne each. This will lead to more participation and competition when price of the commodity in international market depicts a downward trend.

Read more: Kamyab Jawan, PepsiCo to jointly offer graduates internship

Funds worth fifty million rupees were approved for the construction of Frontier Constabulary Center in Michni, Khyber Pakhtunkhwa along with the approvals were given for importing 120.000 and 40,000 mega tonne wheat. Lastly, funds were approved for technical supplementary grant (TSG) for GENCOs and forty per cent accounts payable to independent power providers of 2002 policy.