LAHORE: P&G Pakistan and Akhuwat have signed a memorandum of understanding (MoU) to lend interest-free microloans to women entrepreneurs to help enable them create sustainable income, a statement said on Tuesday.
The collaboration aims to change lives of over 500 women as well as create additional employment opportunities for around 800 more citizens.
Adil Farhat, chief executive officer at P&G Pakistan, said the company was committed to the cause of gender parity and would continue to broaden economic opportunities for women in a sustainable and transformative manner.
They had collaborated with Akhuwat to reach out to women in marginalised communities and provide opportunities to instate financial independence amongst women entrepreneurs, he added.
Akhuwat founder Amjad Saqib was of the view that poverty was not just about lack of resources, but deprivation of a social network, justice, and morality. The purpose behind the loans was to facilitate women entrepreneurs to become self-sufficient to improve their standards of living as well as uplift the society, he stated.