Loans for Government Employees KPK Issuance of Funds for Interest-Free 2024
The Khyber Pakhtunkhwa Government has allocated funds for interest-free loans for government employees in 2024, with a total amount of 290 million rupees. General employees will receive 21.07 crore rupees, while secretariat employees will get 7.93 crore rupees.
Details of the Funds for Interest-Free Loans for Govt Employees KPK 2024
The KP Government annually issues loan amounts for both secretariat and general employees. Applications were invited in November 2024 for interest-free loans, including House Building Advance (HBA), Motorcycle Advance, Motorcar Advance, and Bicycle Advance for the financial year 2023-24. The loan amounts will be allocated based on a balloting system.
Benazir Kafaalat and Taleemi Wazaif: April to June 2024 Installment Payment Commences
List of Advances for Government Employees of KP
The allocated funds cover the following loans:
House Building Advance (HBA)
Motorcar Advance
Motorcycle Advance
Bicycle Advance
Loan Amount and Monthly Installments
The loan amounts and installment details for each advance are as follows:
| Sr. No | Advance Head | BPS of Employee | Amount of Allocation | Monthly Installment | Total Number of Installments |
|---|---|---|---|---|---|
| 1. | Motor Car Advance (MCA) | BS-17 and above | Rs. 200,000/- | Rs. 3,334/- PM | 60 Installments |
| 2. | House Building Advance (HBA) | BS-01 to BS-17 | Rs. 250,000/- | Rs. 2,080/- PM | 120 Installments |
| 3. | Motorcycle Advance (MCA) | BS-01 to BS-17 | Rs. 80,000/- | Rs. 1,340/- PM | 60 Installments |
| 4. | Cycle Advance (CA) | BS-01 to BS-17 | Rs. 8,000/- | Rs. 100/- PM | 40 Installments |
While the loan amounts are modest, they are interest-free, providing a significant benefit to employees who will not incur additional interest charges. However, the current loan amounts may be insufficient for purchasing a motorcar or constructing a house. It is suggested that the Khyber Pakhtunkhwa government increase the HBA amount to a minimum of 2 million rupees and the motorcar advance to a minimum of 1.5 million rupees. Similarly, the cycle advance should be increased to a minimum of 30,000 rupees.
Payments Release of the 2nd Phase of Benazir Kafaalat and Taleemi Wazaif April to June 2024
