‘Insaf Rozgar Scheme’: KP govt to launch interest-free loan scheme worth Rs2 billion
Loans worth Rs50, 000 - Rs1 million would be given to the professional degree holders, formal and information skilled workers, women, and general in the area.
According to the source, the initiative will cover all districts of the province, except merged districts.
The major objective of the initiative is to overcome unemployment, poverty alleviation and generate economic opportunities.
The government of Khyber Pakhtunkhwa will be launching an interest-free loan scheme. Insaf Rozgar Scheme (IRS) is worth Rs2 billion and will facilitate all districts of the province – except merged ones.
These Rs2 billion funds are the leftover of the Khud Khalafat scheme. These funds will be distributed to launch an interest-free loan scheme.
According to the source, the initiative will cover all districts of the province. Merged districts are not included, as earlier this year, a similar program was launched there.
Moreover, between 2011 and 2013, the government has launched various initiatives, including Bacha Khan Khapal Rozgar Scheme, Pakhtunkhwa Hunarmand Rozgar Scheme, and Riwayati Hunmarmand Scheme.
The major objective of the initiative is to overcome unemployment, poverty alleviation and generate economic opportunities through the provision of interest-free loans ranging from Rs50,000 to Rs200, 000.
“The KKS was formally launched in Jan 2014 with an outlay of Rs2 billion and under the program, a total of 22,454 businesses were extended loan facility,”
With this initiative, interest-free loans worth Rs50, 000-Rs1 million would be given to the professional degree holders, formal and information skilled workers, women and general in the area.
Moreover, 78% of funds would go to men, 20% to women and two percent to special persons. However, according to the summary of the initiative, funds would be given to districts based on the Provincial Finance Commission Award.
People who are aged between 18 and 50 years and are the permanent residents of the province are eligible for loans for a ”startup of a doable business”.