PESHAWAR: The caretaker Khyber Pakhtunkhwa government has granted approval for providing subsidized loans to the province’s youth, and small & medium enterprises (SMEs).
The Bank of Khyber will offer further 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 on Tuesday.
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 provincial government initiative, the interest rates for borrowers and institutions will become highly affordable. Additionally, during the meeting, the provincial cabinet approved the allocation of two kanal and six marla of land for the establishment of a public library in Para Chinar Upper Kurram.
The construction of a 13.5 kanal judicial complex in Sarai Norang (Lucky Marwat) was also endorsed.
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.
It also approved the delegation of enforcement powers to all Tehsil Municipal Administrations (TMAs) and the assignment of controlling officer powers to relevant Assistant Commissioners.
The caretaker cabinet also approved amendments to the Muslim Family Laws Ordinance 1961 and the inclusion of the oath of Prophethood in the Marriage Registration Form.
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