The Khyber-Pakhtunkhwa (KP) government has taken a significant step towards empowering and providing employment opportunities to its youth by commencing the distribution of interest-free loans under the ‘Ehsaas Nojawan Programme’.

A loan check distribution ceremony was held on Tuesday at the Chief Minister’s House in Peshawar, with Chief Minister Ali Amin Khan Gandapur as the chief guest.

Provincial cabinet members including Syed Fakhar Jahan, Brigadier (retd) Muhammad Sajjad, Barrister Muhammad Ali Saif and Muzammil Aslam also attended the event, along with officials from the Department of Youth Affairs and selected beneficiaries of the programme.

The ‘Ehsaas Nojawan Programme’ is a flagship initiative under the umbrella of the provincial government’s ‘Ihsas Initiatives’ that aims to economically empower the youth of the province by providing them with interest-free loans to start their own businesses.

Launched with an initial budget of Rs3 billion, this three-year program has an allocation of Rs1.1 billion in the current financial year. This program consists of two components. The first component of the program is implemented in collaboration with the Bank of Khyber (BoK), through which interest-free loans worth one billion rupees are provided. Under this component, clusters of three to five people aged 18 to 35 are eligible for loans ranging from Rs1 million to Rs5 million.

A flexible repayment plan has been designed, spanning eight years, with the first 20 months as a grace period during which no repayment is required.

The second phase, in partnership with Akhuwat Microfinance Bank, has a budget of Rs 2 billion. This phase offers interest-free loans between Rs 100,000 and Rs 500,000 to people aged 18 to 40 years for small business ventures.

Special quotas are reserved for women and persons with disabilities.

Addressing the ceremony, the Chief Minister said that three more programs under the Ehsaas initiative – Ehsaas Apna Ghar Programme, Ehsaas Rozgar Program and Ehsaas Hunar Program – will also be launched very soon with a total allocation of Rs 15 billion. in the current budget.

The Chief Minister emphasized that the Ehsaas Nojawan program is a critical step towards financial independence for the youth which is in line with the vision of Pakistan Tehreek-e-Insaf founding chairman.

The initiative aims to encourage young people not only to create employment opportunities for themselves, but also to create jobs for others.

He urged the youth to prioritize entrepreneurship over seeking employment and highlighted the huge potential for growth in business ventures.

The provincial government, he assured, is committed to giving full support to young individuals with innovative business ideas.

Concluding his speech, Gandapur emphasized the importance of hard work and integrity, saying: ‘Honesty is the best strategy and there is no substitute for hard work.’