PESHAWAR: The caretaker Khyber Pakhtunkhwa government has approved grant of subsidized loans to the province’s youth and small and medium enterprises (SMEs).
The Bank of Khyber will offer concessions on these loan schemes with favourable terms with the provincial government covering the associated costs.
This approval was given during a meeting of the caretaker provincial cabinet chaired by Chief Minister Muhammad Azam Khan.
Representatives from the Bank of Khyber presented a briefing to the caretaker cabinet regarding loans for SMEs and youth provided by the State Bank of Pakistan, the province’s involvement in such initiatives, and the resulting benefits.
Through this initiative, the interest rates for borrowers and institutions will become highly affordable.
The caretaker cabinet further approved the review of budget estimates allocated to the Khyber Pakhtunkhwa Housing Authority for the year 2022-23, along with the budget estimates for 2023-24.