Peshawar, Nov 7 — The Khyber Pakhtunkhwa government has taken a significant step towards economic empowerment and poverty reduction with the upcoming launch of its interest-free Ehsaas Loan Scheme. All necessary measures to implement the scheme have been completed, as announced during a high-level meeting at the Civil Secretariat chaired by Advisor to the Chief Minister on Finance, Muzammil Aslam.
The meeting was attended by key provincial figures, including Minister for Housing Dr. Amjad Ali, Special Assistant to the Chief Minister for Technical Education and Vocational Training Tufail Anjum, Secretary of Zakat Nazar Hussain Shah, and other relevant stakeholders.
Under the Ehsaas Loan Scheme, interest-free loans will be provided for small businesses and house-building purposes, with repayment terms extending up to five years. The scheme is aimed at creating new business opportunities, reducing unemployment, and alleviating poverty across the province.
Advisor Muzammil Aslam emphasized the transformative impact of the program, highlighting its potential to drive self-employment and economic stability. “The Ehsaas Loan Scheme will open up new avenues for business and employment, helping to eradicate poverty in Khyber Pakhtunkhwa,” he remarked.
Supporting this initiative is the Akhuwat , which will facilitate the loan disbursement. The first phase of the scheme will begin with a budget of one billion rupees, with eligible applicants able to secure loans up to Rs. 500,000 within the first year.
Aslam instructed all stakeholders to finalize the scheme’s memorandum of understanding (MoU) by the end of the month, ensuring timely implementation. He noted that this new interest-free loan scheme builds on a similar initiative launched by the previous KP government in 2022, reinforcing the province’s commitment to inclusive economic growth.
The interest-free Ehsaas Loan Scheme represents a forward-thinking approach by the KP government to empower residents and foster economic resilience in the region.
