Kamyab Karobar Loan
Prime Minister of Pakistan Imran Khan on Monday 04 October 2021 launched a new loan program named Kamyab Pakistan program.
Kamyab Pakistan Program has 5 major components as given below
- kamyab Karobar Program
- Kamyab Kisan Program
- Sasta Ghar Scheme
- Kamyab hunarmand Program
- Sehatmand Pakistan
But our focus in this post is Kamyab karobar Program
This loan program has been designed for youth to enable them to start their own business.
Loan through this Program will be totally interest-free.
if someone gets a loan of Rs.500,000 then he/she would return only Rs.500,000 in installments.
No Mark-Up will be charged against these loans.
The eligibility criteria is defined in the Ehsaas Program Economic Indicators of a family.
If a family monthly earning is Rs.50000 or less than that then it’s eligible for the Kamyab Karobar loan Program.
To check your eligibility SMS your CNIC number on 5771.
Your eligibility will be confirmed through return message.
If you are using a U Fone SIM then be aware that Rs.58 will be charged against a single SMS sent to 5771.
This time Govt has adopted a different strategy to disburse the loans to Youth for their businesses.
Govt observed the experience gained in the Naya Pakistan housing scheme and Kamyab Jawan Youth Loan Scheme.
These both the above-mentioned schemes faced failure because of the banks involved in the process.
Banks in Pakistan are not systemized to disburse loans to poor people or to people with only skills and ideas.
So this time Govt has decided to disburse these loans through Microfinance Banks.
Microfinance Banks are already engaged with poor people and they are giving small loans with nearing 100% recovery.
Microfinance banks like Khushali Bank, Mobilink Microfinance Bank, Apna Microfinance Bank and NGO’s like Akhuwat are already engaged in giving small loans.
Hence the success of this loan scheme is obvious if its being executed through Microfinance Banks.
Following are the salient features of the Kamyab Karobar Program.
Loan for Those whose Monthly Income is Less than Rs.50,000/month.
Loan Amount Maximum Rs.500,000.
Loans are Without Interest.
Loan Disbursement through Microfinance Banks.