Federal Minister for Finance and Revenue Shaukat Tarin chaired a meeting on the expansion of Kamyab Jawan Programme through video link on Friday.
SAPM on Youth Affairs Usman Dar and presidents of the National Bank, Habib Bank and Bank of Punjab were also present.
Speaking at the meeting, the finance minister invited Dr Amjad Saqib, Amir Masood Khan, chairman the Naya Pakistan Housing Authority and others to share their views on the expansion of the project so that more and more people, especially youngsters, could become part of the government’s financial inclusion programme.
The finance minister asked the banks to prepare a design of the programme (for tier 1 borrowers) through which they could collaborate with microfinance banks and microfinance institutions and provide short/medium term loans at zero or minimum possible interest rate for entrepreneurship, agricultural development and housing projects.
The participating banks and other stakeholders shared their views and experiences at the meeting on the subject and agreed with the general idea of maximising the use of financial resources by micro-credit users.
The finance minister asked all major banks and microfinance institutions to come up with suggestions on the design of the programme within a week and earmark a percentage of their resources for the purpose. He said the government would provide credit guarantee and risk sharing facility to provide comfort to the commercial banks.
