KP Govt launches Interest Free Ehsas Loan Scheme

PESHAWAR: The government of Khyber Pakhtunkhwa (KP) has taken people friendly steps and completed all the action points to start interest free Ehsaas loan scheme, here on Thursday.

A meeting regarding interest-free Ehsaas Loan Scheme was held here on Wednesday under the chairmanship of Advisor to Chief Minister Khyber Pakhtunkhwa on Finance Muzammil Aslam at the Civil Secretariat.

Minister Housing Khyber Pakhtunkhwa Dr. Amjad Ali, Special Assistant to Chief Minister for Technical Education and Vocational Training Tufail Anjum and Secretary Zakat Nazar Hussain Shah and related stakeholders participated in the meeting.

The meeting was informed that under the interest-free Ehsaas loan scheme, loans of up to five years will be provided, while interest-free loans will be given for small business and house building.

Addressing the meeting, Finance Advisor Muzamil Aslam said that the Ehsaas Loan Scheme will create new business opportunities and people will get employment and it will be possible to eradicate poverty from the province.

He said that the Akhut Organization is assisting the people in providing the Ehsaas Loan Scheme. He further said that the interest-free loan scheme will start with one billion rupees in the first phase. He further said that under the interest-free Ehsaas loan scheme, a loan of up to Rs. 5 lakh will be given in the first year.

Issuing instructions to the concerned authorities, Finance Advisor Muzammil Aslam remarked that all the stakeholders should complete their memorandum of understanding for the Ehsaas Loan Scheme by this month. He said that the interest-free Ehsaas loan scheme is a continuation of the loan scheme launched in 2022 by the then KP government.