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KP to initiate microfinance scheme for skilled workers

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  • KP to initiate microfinance scheme for skilled workers

    Peshawar—The provincial government of Khyber Pakhtunkhwa (KP) has decided to launch ‘KP Hunarmand Rozgar’ Scheme for skilled workers of the province, official sources told APP on Saturday.

    Under the microfinance scheme a loan from Rs.50,000 to Rs.0.3 million would be given to persons having specific skills, special skill, knowledge, or ability in his work having a valid skill certificate dully issued by Board of Technical Education (BTE), Technical Testing Board (TTB), Gems and Gemological Institute of Pakistan (GGIP), Apprehenticship Ordinance 1962 Certificate or equivalent certificate issued by any government of institute.

    The scheme would be initiated with a fund of Rs.1.3 billion for period of three years and may be extended for another 3 years and may become a permanent feature of the provincial economy.

    The last meeting of the provincial cabinet had already given approval for the initiating of the scheme. The microfinance scheme for the skilled workers would the second after the Rs.1 billion Bacha Khan Khapal Rozgar Scheme, which will specifically focus on the skilled workers of the province.

    In this connection, the provincial government has earmarked the amount to be utilized for self-employment of the skilled workers.

    For obtaining the loan, a standard application form has been designed and will be available at the designated branches of the bank and may also be posted on the provincial government website. The targeted group of the scheme is trainees from skilled development institutes interested in starting their own businesses, men and women trained in arts and crafts and other vocational skills and all those artisans having verifiable skills.

    Feasible economic trades and businesses for the schemes are included gems, marble & mineral based activities, handicrafts, plumbing, automotives, electrician work, technicians & mechanics, furniture related activities, light engineering, garment stitching, embroidery and textile, beauticians and hair dressing, IT, footwear/ leather and any other skill with business potential.

    The all bona-fide inhabitants of the Khyber Pakhtunkhwa having specific skills, holding valid computerized National Identity Card having age 18 to 40 years are entitled for the loans. In case of woman the age relaxation is extendable up to 50 years.—APP

    http://pakobserver.net/detailnews.asp?id=93615
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