The inauguration of Insaf Rozgar Scheme has provided an opportunity to you to avail soft loans for business development.
The Insaf Rozgar Scheme has provided an opportunity to youth to avail soft loans for business development.

Nabi Jan Orakzai

PESHAWAR: Rehman Khattak, In-charge Micro-Finance Division, Bank of Khyber, says the aim of the Insaf Rozgar Scheme is to address the sense of deprivation of the people of tribal districts.

TNN conducted an interview with Rehman Khattak to know who are eligible for loan under Insaf Rozgar Scheme and on which basis this loan is paid?

Rehman Khattak said the KP government has initiated Insaf Rozgar Scheme for tribal districts and allocated Rs1 billion for the project in its initial phase. He said the aim of this loan scheme is the address the sense of deprivation of the tribal districts, which had been kept deprived since long, and alleviate poverty from the region.

“It is a loan, not a grant, which means that it will have to be returned without mark-up. People aged between 18 to 50 years can benefit from this scheme. Only the citizens of the merged districts are eligible for the scheme. Professional degree holders are eligible to get Rs1 million, technical experts can get up to Rs500,000 and others can get up to Rs300,000,” he said.

Rehman Khattak said another category of loan ranges from Rs50,000 to Rs300,000.

“This category includes people who already have business and want to expand it and people who want to start a new business and have a viable idea. Two personal guarantees will be required for the loan – one of them must be a government official and other can be a private person,” he said.

Mr Khattak said the loan needs to be returned in three years with additional three months grace period. He said the form can be downloaded from the bank’s website and it is also available at bank branches.

“It is also available with our staff present at the assistant commissioner and deputy commissioner office. It is very easy to fill the form. A candidate must write down his idea in the form with terms and conditions and submit it with our staff. The processing of the applications starts immediately and the same branches of the bank will provide loan where the application is submitted,” he said.

In the initial phase, he said, the BoK has started distribution of forms in Khyber, Mohmand and Orakzai tribal districts.


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