Daily Times

The Interest-Free Loan (IFL) scheme being executed by the Pakistan Poverty Alleviation Fund (PPAF) is contributing immensely to financially empowering impoverished families across the country by providing loans for small businesses, making them self-reliant. The Interest Free Loan Programme is a flagship initiative of the government designed and implemented by the PPAF and is strategically aimed at promoting financial inclusion as a means of reducing poverty by providing interest-free loans to impoverished households in more than 100 districts across Pakistan.

These loans serve to empower poor households to initiate income-generating enterprises, thereby fostering economic self-sufficiency and improving their overall quality of life.

IFL beneficiary, Ameeran Bibi who lives in Gharibabad, Piplan, Mianwali said, “My grandfather used to make pottery so was my father and now I make pottery at my home however we didn’t have enough finances to sustain this business”.

“My husband is suffering from serious health issues and my son helps his father arrange pottery in the shop before going to school and take care of the business after school, allowing his father to rest”, she said.

“One day I came to know about interest-free micro loans and after discussing with my husband, I applied and availed the facility. We started our business through purchasing all the raw material”, Ameeran Bibi said while talking to this news agency.

“Now I am able to run my household expenditure in a better way and also paid back the first loan and applied for the second loan of Rs.45,000. Through this, we improved our business further.

I wish my children get educated and become skilled worker”, she added.

Another IFL recipient, Abdul Wadood, District Sherani, Balochistan, said, “I have benefited greatly from this programme. Initially I have received Rs. 20,000 and later Rs. 40,000. This has significantly boosted my business and I am deeply thankful to those running this scheme”. “We pray for the success and continuation of this programme and may its organizers be rewarded abundantly. My shop has flourished greatly and I have benefited greatly from it and many difficulties have been reduced”, he said.

Another IFL recipient, Saira Bibi from Bahawalpur, who crafts exquisite jewelry pieces under her brand, S-Jewelry said, “I have received loan through the IFL Programme and started my own business and now earning up to Rs. 60,000 monthly”.

It all began when Saira decided to capitalise on her talent for jewelry making and transform it into a rewarding family business.

By securing an interest-free loan of Rs. 10,000, she witnessed her monthly savings soar to Rs. 30,000. As her husband and brother-in-law joined her in marketing her products, she took on a second loan of Rs. 40,000 after paying off the initial installments. This reinvestment further bolstered her income.

Today Saira leads a thriving enterprise, employing five individuals. “Through the assistance of the IFL programme, I have not only secured a sustainable livelihood for myself and my family but is also a source of inspiration for aspiring entrepreneurs in her community”, she said.