ISLAMABAD: Prime Minister Imran Khan launched a Rs407 billion interest-free loan program on Wednesday which he said is aimed at uplifting Pakistan’s lower-income groups and make them less dependent on the government.
Under the prime minister’s Kamyab Jawan Programme, a flagship poverty alleviation scheme, the government intends to disburse loans among the youth, women and farmers and for the construction of low-income houses during the next two years, according to state-run Radio Pakistan.
“We have included 4.5 million families in the Kamyab Jawan Programme,” the prime minister said in a televised address, addressing a ceremony at Islamabad’s Faisal Mosque. “We started from Khyber Pakhtunkhwa. Now, we are introducing this program to the whole country.”
Khan said Pakistani banks had provided loans of up to Rs55bn to lower-income groups, which was unprecedented in the country’s history.
“[The main idea behind the program is] to facilitate people to stand on their feet and start their businesses,” Khan said. “The government will never have enough finance or resources to give money to such a large population.”
Khan said his government would ensure that by the end of this month, every family in Punjab would have health cards and have access to health insurance amounting to Rs1 million.
He promised that every penny collected as tax by the government would be spent on the welfare of the people.
PM Imran Khan launches Rs407bln interest-free loan program for 4.5 million families
https://arab.news/mzhz9
PM Imran Khan launches Rs407bln interest-free loan program for 4.5 million families
- Government to disburse loans among youth, women, farmers, for construction of houses in next two years
- PM says government will spend every penny of tax collected on the people’s welfare
Pakistan to promote mineral sector at Saudi forum this month with 13 companies
- Delegation will take part in the Future Minerals Forum in Riyadh from Jan. 13-15
- Petroleum minister will lead Pakistan, participate in a 90-minute country session
ISLAMABAD: Around 13 Pakistani state-owned and private companies will attend the Future Minerals Forum (FMF) in Saudi Arabia from Jan. 13 to 15, an official statement said on Friday, as the country seeks to ramp up global engagement to develop its mineral resources.
The FMF is an international conference and investment platform for the mining sector, hosted by mineral-rich countries to attract global investors, companies and governments.
Petroleum Minister Ali Pervaiz Malik confirmed Pakistan’s participation in a meeting with the Saudi envoy, Nawaf bin Said Al-Malki.
Pakistan hosts one of the world’s largest copper-gold zones. The Reko Diq mine in southwestern Balochistan, with an estimated 5.9 billion tons of ore, is partly owned by Barrick Gold, which calls it one of the world’s largest underdeveloped copper-gold deposits. Its development is expected to boost Pakistan’s struggling economy.
“Upon an invitation of the Government of the Kingdom of Saudi Arabia, the Federal Minister informed the Ambassador that Pakistan will fully participate in the upcoming Future Minerals Forum (FMF), scheduled to be held in Riyadh later this month,” Pakistan’s Press Information Department (PID) said in an official statement.
The Pakistani minister will lead his country’s delegation at the FMF and take part in a 90-minute country showcase session titled “Unleashing Potential: Accelerating Pakistan’s Mineral Revolution” along with local and foreign investors.
Pakistan will also establish a dedicated pavilion to highlight the vast potential of its rich geological landscape to the global mineral community.
The Saudi envoy welcomed Pakistan’s decision to participate in the forum and discussed enhancing bilateral cooperation in the minerals and energy sectors during the meeting.
According to the statement, he highlighted the potential for cooperation between Saudi Arabia and Pakistan in the minerals and energy sectors, expressing confidence that the FMF would provide a platform to expand collaboration.
Pakistan’s mineral sector, despite its rich reserves of salt, copper, gold and coal, contributes only 3.2 percent to the country’s GDP and just 0.1 percent to global mineral exports.
However, many countries, including the United States, have shown interest in Pakistan’s underdeveloped mineral sector, particularly in copper, gold and other critical resources.
In October, Pakistan dispatched its first-ever shipment of rare earth and critical minerals to the United States, according to a Chicago-based US public relations firm’s report.
