Pakistan
Govt to give Rs 56bln subsidy on interest-free loans of Rs 407bln: Farrukh Habib
"People with meager resources will get loans amounting to Rs 500,000 to start their own businesses"
Islamabad: Minister of State for Information and Broadcasting Farrukh Habib on Wednesday said the government, under its flagship initiative of the Kamyab Pakistan Programme, would disburse interest-free loans worth Rs 407 billion among youth, women, and farmers in the next two years.
In a series of tweets, Farrukh Habib said the government would give a subsidy of Rs 56 billion on such loans that were aimed at enabling the people to build homes and start their own businesses.
He said that Prime Minister Imran Khan was scheduled to launch the loan disbursement scheme on Wednesday (today), under the Kamyab Pakistan Programme in line with his vision of poverty alleviation.
The minister said that people with meager resources would get loans amounting to Rs 500,000 to start their own businesses, and up to Rs 2.7 million for house building through micro-finance institutions including Akhuwat Foundation.