The Civil Aviation Authority (CAA) of Karachi has recently introduced a comprehensive loan program designed to assist its dedicated workforce in acquiring vehicles. This initiative is part of a broader strategy to address the transportation needs of CAA staff, offering a tailored financial solution.
Under the newly launched scheme, CAA employees are eligible for loans catering to various types of vehicles, ranging from motorbikes and bicycles to cars. The loan amounts are tiered based on the employee’s grade within the organization, ensuring accessibility for individuals across different roles.
For employees in the Service Group, specifically grades 1 to 2, loans up to Rs. 25,000 are available for bicycle purchases. Higher-ranking employees, up to grade 11, can benefit from loans reaching up to Rs. 150,000, specifically for motorbike acquisitions.
The loan structure extends further to accommodate the diverse needs of CAA employees. Individuals in the CAA Executive group at grade 1 can secure loans of Rs. 200,000, while those in the Pay group from grades 5-9 are eligible for advance loans up to Rs. 1.3 million. Special employees in the Pay group from grades 5 to 11 also have access to loans up to Rs. 1.3 million. Notably, employees in the Executive Group, ranging from grades 2 to 10, can avail loans up to Rs. 3.5 million.
The CAA has outlined that a reasonable 10% annual interest rate will be applied to these loans, which are explicitly crafted to facilitate vehicle purchases. This initiative not only empowers CAA employees with affordable financial options but also aligns with the organization’s commitment to supporting its workforce.
As the CAA continues to prioritize employee well-being, the Easy Loan Scheme stands as a testament to fostering a conducive and supportive work environment. The implementation of this program showcases the organization’s dedication to enhancing the overall quality of life for its valuable staff members.
