ISLAMABAD: Finance Minister Shaukat Tarin has directed to finalise the institutional framework of funding for the Kamyab Jawan Programme, so that the proposal can be incorporated in the forthcoming budget.

While chairing the second meeting to discuss and develop the institutional framework of funding for the Kamyab Jawan Programme, the finance minister said that he wanted the Kamyab Jawan programme to be finalised in a manner, so as to cover all the targeted beneficiaries.

An official said that the National Bank and the Habib Bank have so far received around 0.2 million applications.

The government may provide interest-free loans to low category of borrowers of Kamyab Jawan Programme.

The official added that the quantum of subsidy required for the programme has not been worked out yet.

The meeting was also attended by Special Assistant to the Prime Minister on Youth Affairs Usman Dar, SAPM on Finance and Revenue Dr Waqar Masood, executive director Akhuwat Foundation, presidents of National Bank of Pakistan, Bank of Punjab, and Habib Bank Limited, chairman Naya Pakistan Housing and Development Authority and chairman Habib Bank Limited (HBL) attended the meeting.

Earlier, the finance minister considered in detail the proposals prepared by the State Bank of Pakistan (SBP), the Bank of Punjab, and the Akhuwat Foundation.

The proposals have been developed to facilitate the provision of subsidised loans for the agriculture, low-cost housing and small businesses to generate employment and promote growth.

The meeting also discussed the role of microfinance institutions, commercial banks and Rural Support Programmes, and highlighted their role as partner institutions to achieve the objectives of the programme.

There was also a discussion on removing the age limit for loan eligibility, so that all segments of the society could benefit from the Kamyab Jawan Programme.

Copyright Business Recorder, 2021