Peshawar:
Khyber-Pakhtunkhwa Chief Minister Ali Amin Gandapur has announced that the provincial government would not introduce new taxes this financial year.
In a talk about the province’s financial discipline on Tuesday, Gandapur said KP has not taken out any new loans so far.
However, a significant RS150 billion has been set aside for repayment of loans, which emphasizes the government’s obligation to manage existing debt responsibly.
CM, which highlights development plans, said the province is launching mega projects with work already underway on the Peshawar-Derma Ismail Khan motorway, a central infrastructure initiative aimed at improving the regional connection.
In an attempt to strengthen youth, Gandapur revealed that the government is planning to extend interest -free loan schemes further, enabling young people to become financially self -reliant.
He also declared a “educational emergency” throughout the province and emphasized that improving education standards is a highest priority for his administration.
The upcoming budget reflects the provincial government’s focus on 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 the livelihood of the merged districts.
The initiative, which spans 13 years (2021-2034), has already made significant progress, with 66,557 individuals benefiting from the program so far, while 22,152 more currently receiving financial support under the scheme.
The program provides interest -free loans ranging from RS25,000 to RS75,000, with a flexible repayment period of up to 36 months.
This structure is designed to ensure that recipients can repay the loan in light rates without the burden of interest, making it particularly accessible to low-income and undervalued populations.
The project is implemented by the Khyber-Pakhtunkhwa Small Industries Development Board (Sidb) with a total allocation of RS2,007 billion.
Operational execution is carried out in partnership with Akhuwat Foundation Pakistan, one of the country’s most trusted microfinance institutions.
Currently, 36 branches of Akhuwat work in various merged districts, allowing local residents to apply for loans close to the home. The scheme is aimed at a wide range of economic sectors.
Recipients have used the funds to start new businesses, expand existing companies, buy necessary equipment and machines and invest in agriculture and house dydling.
This multi -sectoral approach ensures that people from all walks of life, especially those from rural and financially marginalized backgrounds, can benefit from financial inclusion.
Sikandar Shah, Monitoring and Evaluation Manager, Sikandar Shah, recently made an official visit to Akhuwat branch offices located in the Bajaur District, DI Khan and Lakki Marwat.
App (with input from our correspondent)
