Tribal District Interest-Free Loan Program Launched – Journal

Chief Minister Mahmood Khan attends the signing of the agreement in Peshawar on Thursday. – Dawn

PESHAWAR: The government of Khyber Pakhtunkhwa signed an agreement with the Akhuwat Foundation to launch an interest-free microfinance program for the development of entrepreneurship in the amalgamated tribal districts.

Under the scheme, small loans of up to Rs 75,000 would be granted to entrepreneurs in the merged areas, according to an official statement released here on Thursday. The program to promote small and medium enterprises and the cottage industry would have a working capital of Rs1 billion.

Under this program, a quota of 25% has been allocated to women, 5% to special people and 2% to transgender people. The statement said the agreement was signed with the Akhuwat Foundation, a private non-profit organization, to launch the interest-free microfinance program.

Chief Minister Mahmood Khan attended the ceremony which was also attended by CM’s Special Assistant on Industries Abdul Kareem, Industries Secretary Javed Marwat, Akhuwat Foundation Director General Dr Amjad Saqib, and senior executives.

Government and NGO sign agreement

This loan program is executed through Akhuwat Islamic Microfinance which is already implementing an interest-free program worth Rs 500 million in the merged areas.

This is the second major program under which more than 219,000 people from the amalgamated areas would be facilitated over the next 13 years. The loans are said to be completely interest-free and granted on merit, the statement said.

On this occasion, the Chief Minister described this initiative as another important step of the provincial government towards the economic prosperity of the tribal districts. He said that small and medium enterprises and cottage industry were the backbone of the national economy.

He said that SMEs and cottage industry could not thrive without financial support and that is why the government is doing everything to provide financial subsidies. He said the provincial government would also launch an interest-free loan program for phased colonized districts, starting with remote areas.

THE APP ADDS: Chief Minister Mahmood Khan on Thursday inaugurated specially designed buses by the Sports and Tourism Department for people with different abilities, as well as special player Mesmat Shiraz.

Two buses have been developed for special players, which would allow them easy access to the sports field, the chief minister said during a speech on the occasion.

Sports and Tourism Secretary Abid Majeed and KP Sports Director General Asfandyar Khan Khattak were also present on the occasion.

The chief minister said the government was taking all possible measures to help people with different abilities.

Posted in Dawn, le 2 April 2021

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