Shaukat Tarin finalizes contours of KPP in consultation with all relevant stakeholders
ISLAMABAD ( Web News )
A meeting chaired by Finance Minister Shaukat Fayyaz Ahmed Tarin in Islamabad on Friday finalized the contours of Kamyab Pakistan Program (KPP) in consultation with all relevant stakeholders. After extensive discussion, it was decided that a robust bidding process will be undertaken for selection of wholesale lenders who in turn will exclusively engage with executing agencies.
The government will extend guarantee to wholesale banks up to fifty percent on a risk sharing basis. In his remarks, the Finance Minister said Kamyab Pakistan Program is a flagship initiative of the government to transform the lives of marginalized segments of the society and ensure their financial empowerment.
He said this is the first program of its kind in Pakistan;s history wherein the banks are being connected to the lowest income segment through microfinance institutions. Shaukat Tarin said the program will be launched in phases to cover all areas of the country effectively. He said during the first phase, Khyber Pakhtunkhwa, Balochistan and
the poorest of the poor districts of Punjab, Sindh, Gilgit Baltistan and Azad Kashmir will be covered.
Special Assistant on Youth Affairs Usman Dar said that Kamyab Pakistan Program will be of great significance in creating income generation opportunities for our talented youth and will go a long way in breaking the vicious cycle of poverty in the country.