ISLAMABAD: Federal Minister for Finance Minister, Senator Mohammad Ishaq Dar Wednesday directed the Pakistan Poverty Alleviation Fund (PPAF) to focus on devising microfinance structures for the areas which have low or no access to microfinance.
“Areas with low or no microfinance should be reached in the layout and the scheme should be devised on low operational cost,” he said while chairing a meeting to review and launch the Prime Minister’s Interest Free Loan Scheme here.
He said that the Prime Minister had, during his election campaign, announced that the PML (N) will reach to the economically poor population through his interest-free loan schemes enabling them to stand on their feet.
Dar added that in line with the PML (N) manifesto, the interest free loans should be rolled out at the earliest and all modalities including structural layout should be worked out before the end of March 2014.
He said that the government will fulfill its promises with the nation.
Earlier, PPAF Chief Executive Officer (CEO), Qazi Azmat Isa briefed the Finance Minister on the details of the concept paper, operational cost and disbursement on the basis of province, urban rural divide and gender share.
He shared the outreach plan for the scheme and the details of the work force to be trained for delivery of the product.
He informed that PPAF’s outreach across the country and its expertise in undertaking a range of poverty alleviation interventions will help the government to design, mobilize, implement and monitor the program, in partnership with organizations that implement poverty alleviation programs through micro finance, interest free loans or livelihoods interventions in Pakistan.
Among others, the meeting was also attended by Umer Ayub Khan, Member National Assembly, Dr. Muhammad Amjad Saqib, Executive Director, Akhuwat, Dr. Waqar Masood, Secretary Finance, Nargis Sethi, Secretary EAD, Seerat Asghar Secretary, National Food Security and Research, Rana Assad Amin, Advisor to the Finance Ministry, and senior officials of the Finance Ministry.