Kamyab Pakistan phased out due to IMF objection

The International Monetary Fund (IMF) raised objections over the limit of guarantees for doling out a small loans' scheme under the Kamyab Pakistan Programme (KPP); therefore the federal government has decided to scale back the programme.

The government has decided to phase out the loan programme even though the IMF had suggested softening the launch.

Federal Minister for Finance Shaukat Tarin mentioned that in the third week of September, the first phase of the KPP will be launched in Khyber Pakhtunkhwa (KP) and Balochistan while it will be launched in January 2022 in the other provinces.

According to the top officials, “Pakistan and the IMF are scheduled to hold virtual talks for the sixth review from September 29, 2021, and then Finance Minister Shaukat Tarin will conclude policy level talks in Washington, DC, as he will be attending the annual spring meeting of Breton Wood Institutions (BWIs) such as the IMF and World Bank by the mid of next month”