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Govt is committed to improve poverty situation: Miftah Ismail

ISLAMABAD, May 14 (DNA): Federal Minster for Finance and Revenue, Mr.
Miftah Ismail, presided over a meeting on Kamyab Pakistan Program (KPP)
at Finance Division today.

Chairman Akhuwat Dr. Amjad Saqib, President BOP Mr. Zafar Masood,
Secretary Finance and senior officers participated in the meeting.

Finance Minister Mr. Miftah Ismail stressed that present government is
committed to improve the poverty situation in Pakistan and Kamyab
Pakistan Program is a good platform in this regard. He further stated
that such program is in consonance of the vision of Prime Minister
Shehbaz Sharif to uplift the living standard of people.

In a comprehensive presentation given on Kamyab Pakistan Program, it was
highlighted that poverty alleviation through a number of highly
effective steps is the prime objective of this program. This program
ensures the provision of interest free loans to poorer segments of

The bottom-up approach is employed for execution of poverty alleviation
in this program. Sahatmand Pakistan, Kamyab Hunarmand, Low-Cost Housing,
Kamyab Kissan and Kamyab Karobar are the key pillar of KPP. A limit of
Rs. 2.85 million per household is placed to ensure the equitable
distribution of resources.

Moreover, it was apprised to the Finance Minister that Monthly
disbursements are now touching PKR 1.7-2.0 billion. Ministry of Finance
invited bids from commercial banks to act as Wholesale Lenders (WLs) to
the program on quarterly basis. So far HBL, NBP, BOP, Askari Bank, Bank
Islami Pakistan and Pakistan Mortgage Refinance Company have
participated in the bidding process. Furthermore, Akhuwat and NRSP have
disbursed Rs. 11.2 billion to over 71,500 beneficiaries.

The Federal Minister for Finance and Revenue shared satisfaction over
the progress of this program and emphasized that  this program should be
re-examined and modified accordingly for ensuring greater level of
effectiveness, transparency and efficiency. It must be ensured that
loans should easily reach-out to the eligible deserving people with zero
duplication and by getting away access hurdles. Furthermore, timely
issuance of guarantee for the next quarter may be initiated as soon as
possible to cater needs of large number of borrowers seeking funds.

In conclusion, the Federal Minister expressed that the present
government is committed to uplift the living standard of the masses and
he further stressed the stakeholders to gear up the disbursement of the
interest-free loans to help the people in achieving self-sufficiency.


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