ISLAMABAD: Federal Minister for Finance and Revenue, Shaukat Tarin said here Thursday that the incumbent government had laid the foundation of the Welfare State to ensure poor of the country did not suffer anymore and had opportunities available to earn respectable livelihood for themselves.
“The foundation of welfare state has been laid. This is a big day, big day for the poor people,” the federal minister said while addressing the ceremony for disbursement of interest-free loans under Kamyab Pakistan Programme.
The federal minister said that initially 4 million households would be provided financial assistance under the programme, which would be extended to 6 million and then 7 million households gradually.
He was of the view that as and when this programme spreads across the country, it would bring prosperity, adding that when the low-income segment of society becomes prosperous then we can say that real Pakistan or Pakistan of Quaid-e-Azam was established.
He said that the poor of the country had always been shown dreams of food, clothing and shelter and were realized that when the economy grows it would have a trickle-down effect on them. However, the minister lamented, even after 74 years since Pakistan came into being, this could not happen to date.
He said that the Prime Minister, Imran Khan believed in Riyasat-e-Madina, so he had equal focus on a growing economy, enhancing the income of upper and middle class and as well as the welfare of poor.
He said that the Prime Minister did not want the poor to wait for the trickledown effect, so he had urged for this programme so that poor people get opportunities to earn respectable livelihood for themselves without hurting their self-respect.
Shaukat Tarin said that under the Kamyab Pakistan Programme, big banks would wholesale loans to small and microfinance banks, which provide loans to deserving people on a retail basis.
Under the programme, he added, the farmers would be provided interest-free loans up to the tune of Rs150,000 for one crop and Rs300,000 for two crops and Rs200,000 for tractors.
Likewise, Rs500,000 loans would be provided to a household for setting up a business, and Rs2 million to Rs2.5 million for building a house. In addition, Sehat cards were provided to ensure health coverage for the poor.
He said this was the complete package to target the poor of the country adding that loans were being provided purely on a merit basis with complete transparency irrespective of affiliations with any party, group or tribe.
He also appreciated all the stakeholders, small and large banks for making this big programme successful within a short span of time. He said that even the World Bank was suspicious of how this could happen but conveyed that when successful, they would seek guidance from Pakistan to replicate the programme in other countries.
