Govt discontinues MPMG, PMKJ-YES Schemes

MG News | June 30, 2022 at 11:03 PM GMT+05:00

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June 30, (MLN): The government on Thursday discontinued the Mera Pakistan Mera Ghar (MPMG) and Prime Minister's Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES) as it advised banks, Development Financial Institutions (DFIs), and microfinance banks (MFBs) to put further disbursements under MPMG and PMKJ-YES on hold from July 01, 2022.

The State Bank of Pakistan (SBP), in a circular issued today, said that the government is considering to review/revise features of the subject scheme in light of recent developments in the macroeconomic scenario.

"Accordingly, banks/DFIs/MFBs are advised to put further disbursements under MPMG on hold from July 01, 2022, till August 31, 2022,” the circular added.

However, in those cases where partial disbursements have already been made till June 30, 2022, banks/DFIs/MFBs may release the remaining disbursement under MPMG, it noted.

In another circular, SBP notified, "Banks participating as executing agencies under PMKJ-YES are advised to put on hold fresh disbursement to July 15, 2022."

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