“PML-N government is focused on financial inclusion of the marginalized segments of society, especially women and, youth, by giving them an opportunity to become entrepreneurs so that they can play a productive role in the national development”, said Ms Leila Khan, Chairperson Prime Minister’s YouthProgramme while addressing a cheque distribution ceremony to celebrate the 250,000th borrower under Prime Minister’s Interest Free Loan Scheme, one of the 06 schemes being run under Prime Minister’s Youth Programme. Finance Minister, Senator Muhammad Ishaq Dar was the chief guest of the ceremony, which was organized byPakistan Poverty Alleviation Fund (PPAF), the executing body of Prime Minister’s Interest Free Loan Scheme.
Ms. Leila Khan remarked,” Prime Minister’s Interest Free Loan Scheme is being implemented in all under developedareas of the country to cater to the poorest of the poor people in these areas”. She added, “This scheme has also given an opportunity to women of these areas to become financially independent, as we all would agree that in today’s world if a woman is financially independent not only she has a say in her family but she is also considered a contributor in improving her family’s living standard instead of being a burden”. She appreciated the fact that 62% of the total borrowers are women.
Pakistan Poverty Alleviation Fund (PPAF) was mandated by the Government of Pakistan to implement and monitor the PMIFL Scheme for 4 years (2014-2018). The journey that started in July 2014 with a total allocation of Rs. 3.5 billion, of which Rs. 3.1 billion was for on-lending, has to date disbursed Rs. 5.5 billion due to the efficient revolving of funds and a recovery rate of 99%.” The scheme is being implemented in 427 Union Councils of 44 districts through 233 branches/loan centers.
Ms Leila Khan, Chairperson Prime Minister’s Youth Programme appreciated the efforts of Pakistan Poverty Alleviation Fund (PPAF) and its 26 partner organizations (POs) for making this scheme a great success.
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