Hunermand Rozgar scheme formally launched in Khyber Pakhtunkhwa

A self-employment generation programme 'Hunermand Rozgar Scheme' formally launched in Khyber Paktunkhwa here on Monday. KPK Chief Minister Amir Haider Khan Hoti formally launched two schemes worth of Rs 1.60 billion for employment and economic activities generation in the province.
A joint memorandum of understanding (MoU) was signed by Secretary Industry Department Khalid Pervez, President Sarhad Chamber of Commerce and Industries (SCCI) Affan Aziz and Bank of Khyber (BoK) Managing Director for provision of loans on soft terms to businessmen and industrialists on the occasion.
KP Chief Minister Amir Haider Khan Hoti speaking on the occasion said the economic growth had declined due to devastating floods and terrorism in the province, however the government had taken bold steps for economic recovery with support of Small and Medium Enterprises Development Authority (Smeda) and other non-government organisations.
He lauded that business community had faced entire situation and continued their businesses despite odd environment. He informed that KP Credit Line scheme worth Rs 200 millions revolving fund had been initiated in collaboration with BoK and SCCI for ensuring transparency of the programme.
He further explained that under the scheme loans of rupees five million to Rs 15 million would be provided to needy and deserving people with low mark-up rate of nine percent. He expressed the hope that the scheme would prove helpful in economic prosperity, provision of employment opportunities and increase in production in the province. Hoti regretted that the banks lending was negligible as compared to other provinces, which was making difficult to recovery militancy-hit economy of the province.
He informed that the provincial finance department would take up the issue with State Bank of Pakistan for provision of maximum loan facilities to consumers. On the occasion, the CM had distributed sanction letter of loans under 'Hunarmand Rozgar Scheme' among 50 skilled and unemployed youth from different districts of the province.
Provincial Minister for Minerals and Technical Education Mehmood Zeb, SCCI President Affan Aziz and BoK MD Bilal Mustafa also addressed the gathering on the occasion Senior KP Minister Rahim Dad Khan, Provincial Information Minister Mian Iftikhar Hussain, KP Minister for Industry Syed Ahmad Hussain Shah, and officials of other relevant stakeholders were also present.