Peshawar:
Khyber-Pakhtunkhwa’s prime minister, Ali Amin Gandapur, has announced that the provincial government would not impose new taxes this fiscal year.
Speaking about the financial discipline of the province on Tuesday, Gandapur said that KP has not taken any new loan so far.
However, a significant RS150 billion for loan payments have been assigned, which underlines the government’s commitment to manage the existing debt responsible.
Highlighting the development plans, the CM said that the province is launching mega projects, with a work that is already underway on the Peshawar-Dera Highway Ismail Khan, a key infrastructure initiative aimed at improving regional connectivity.
In an attempt to empower young people, Gandapur revealed that the government plans to expand even more interesting loan schemes, allowing young people to become financially self -sufficient.
He also declared an “emergency education” throughout the province, emphasizing that improving educational standards is a priority for its administration.
The next budget will reflect the approach of the provincial government in fiscal responsibility, public welfare and long -term development, he added.
Meanwhile, the Khyber-Pakhtunkhwa government has launched a long-term interest-free microfinance scheme for entrepreneurs to support small businesses and improve livelihoods in the merged districts.
The initiative, which covers 13 years (2021-2034), has already achieved substantial progress, with 66,557 people who benefit from the program so far, while 22,152 more currently receive financial support under the scheme.
The program provides interest -free loans from RS25,000 to RS75,000, with a flexible payment period of up to 36 months.
This structure has been designed to ensure that recipients can pay the loan in easy installments without the interest load, so it is especially accessible to low -income and unattended populations.
The project is being implemented by the Development Board of the small industries of Khyber-Pakhtunkhwa (SIDB), with a total assignment of RS2.007 billion.
The operational execution is carried out in association with the Akhuwat Pakistan Foundation, one of the most reliable microfinance institutions in the country.
Currently, 36 Akhuwat branches work in several fused districts, allowing local residents to request loans close to home. The scheme attends to a wide range of economic sectors.
The beneficiaries have used funds to start new businesses, expand existing companies, buy necessary equipment and machinery and invest in agriculture and livestock development.
This multisectoral approach ensures that people in all areas of life, particularly those of rural and economically marginalized origins, can benefit from financial inclusion.
The monitoring and evaluation officer of the SIDB, Sikandar Shah, recently made an official visit to the Akhuwat branches located in the District of Bajaur, Di Khan and Lakki Marwat.
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