‘Pak interest-free loan scheme globally recognised’

ISLAMABAD: The Interest Free Loan Scheme, a poverty alleviation initiative conceived by Quaid of ruling Pakistan Muslim League (PML-N) Nawaz Sharif as Prime Minster of the country has been recognised worldwide as one of the most effective tool in fighting menace of poverty and enabling the poor earn a decent livelihood.

It has been revealed in a high echelon meeting here at the Prime Minister Office (PMO) on Tuesday, chaired by Prime Minister Shahid Khaqan Abbasi. It was informed that an amount of Rs9.7 billion has been disbursed so far under the programme with 409,805 loans given across the country including Fata, AJK and Gilgit-Baltistan. The meeting was informed that 99% recovery rate was another manifestation of the success of the programme.

The briefing was pertaining to review the progress of Prime Minister’s Interest Free Loan Scheme. The meeting was attended among others by Dr Amjad Saqib, Chairman Steering Committee PMIFL, Qazi Azmat Isa, CEO Pakistan Poverty Alleviation Fund (PPAF), Ms. Simi Sadaf Kamal and senior officials.

The Prime Minister was informed that the Interest Free Loan Scheme, a poverty alleviation initiative of the present government, has been recognised worldwide as one of the most effective tools in fighting menace of poverty and enabling the poor earn a decent livelihood. It was informed that an amount of Rs9.7 billion has been disbursed so far under the programme with 409,805 loans given across the country including Fata, AJK and Gilgit-Baltistan.

The Prime Minister was informed that 99% recovery rate was another manifestation of the success of the programme. The Prime Minister while expressing his satisfaction over the progress of the programme, also appreciated the role of Pakistan Poverty Alleviation Fund towards implementation of the programme in a transparent and effective manner.

He said that serving the poor segments of society has remained the foremost priority of the present government and the government would continue making every possible effort to enhance the scope and reach of the programme through greater financial allocations.