Prime Minister Imran Khan announced an ambitious interest-free loan drive with an initial budget of Rs407 billion, claiming that the initiative would help low-income groups become self-sufficient.
He was speaking to a crowd gathered at the Faisal Mosque for the launch of the campaign under the Kamyab Pakistan program.
The funds will be distributed among eligible youth, women, farmers, and for the construction of low-income houses over the next two years as part of the prime minister’s vision for poverty alleviation.
Khan claims that the loans will help 4.5 million families start small businesses, build homes, farm, and learn technical skills.
He stated that so far, Rs2.5 billion has been distributed among low-income groups through various welfare schemes and that banks have also given Rs55 billion in loans after the government encouraged them to help the public.
According to him, Pakistan was envisioned as a socio-welfare state based on the golden principles of Medina.
He regretted, however, that the country’s departure from this ideology had resulted in several challenges to the people’s well-being.
Following the glowing teachings of Prophet Muhammad (P.B.U.H.) on caring for people’s rights, the prime minister said, was the righteous path for a nation to take.
He claimed that the government’s national health insurance program would aid in the expansion of the sector.
He said the foundation would provide interest-free loans worth Rs1 billion to 7,000 households on the occasion, in collaboration with the government, and expressed confidence that the program would help alleviate poverty.
During this time, the government will provide an Rs56 billion subsidy for this purpose.
The Kamyab Pakistan program’s main goal is to help low-income Pakistanis while also boosting economic growth.