According to the recent news, the Economic Coordination Committee (ECC) approved the Kamyab Pakistan Program (KPP) summary. According to the statement, this program will be the most ambitious micro-credit program planned in Pakistan ever. ECC Meeting held yesterday, on Thursday, under the chairmanship of Federal Minister of Finance and Revenue.
During the presentation of KPP, the purpose and aims of the program were elaborated. The purpose of KPP is to consult with stakeholders for the microcredit disbursement that will uplift the marginalized segments of society. However, the Kamyab Pakistan Program comprises the following fice components.
- Kamyab Karobar
- Kamyab Kisan
- Naya Pakistan Low-Cost Housing
- Kamyab Hunarmand
- Sehatmand Pakistan
However, according to the details, for the first three components, the government will provide micro-loans. Those loans will be for the registered and eligible candidates under Ehsaas Data through NSER. However, candidates having RS 50,000 income per month will be eligible. At the same time, the remaining two components will be integrated according to the existing programs.
Framework of KPP
For the Kamyab Pakistan Program, the government will select the banks as wholesale Lenders on bidding through PPRA rules. The wholesale Lenders will select the Micro Finance providers (MFPs). However, for the KPP, the government will provide two guarantees.
- 10% 1st loss guarantee of MFPs
- 50% guarantee to banks on a risk-sharing basis
Launch of KPP
In the first phase of KPP launching, the government will start the program in Balochistan, KPK, AJK, GB, few areas of Sindh and Punjab. After that, the government will launch the KPP across the country.
