Daily Times

ISLAMABAD: Prime Minister Youth Programme (PMYP) Chairperson Leila Khan on Wednesday revealed that 258,637 women were being facilitated through the Prime Minister Interest Free Loan Scheme (IFLS) aimed at making youth self-reliant and useful citizens of the country.

The PML-N government under the leadership of Muhammad Nawaz Sharif had launched IFLS in 2013 with an aim to extend financial assistance to more vulnerable and the poorest of the poor segments of society.

“The recovery rate of the scheme is 99 percent and Rs 9,467 million have been disbursed among 4,000,000 youth with loans up to 50,000,” she added.

Leila Khan informed that the micro-finance facility was aimed to increase workforce of industrial sector from current level of 2.5 million to 5 million adding that “loans are being disbursed to those districts on first priority which either do not have micro-finance facilities or below the 12 percent as per the Micro-Finance Network Data (MFN)”.

PMYP Research & Public Relations Officer Abdul Shakir said that interest free loans with tenure of one year were being disbursed without any mark-up across the country.

The scheme covered two districts of Islamabad, 12 of Punjab, 10 of Sindh, 10 of Balochistan, seven of Khyber Pakhtunkhwa, two of Gilgit-Baltistan and each from FATA and AJK, Abdul Shakir informed.

“More than 60,000 people who were also BISP recipients were facilitated under this scheme in order to provide them their own business so that they could earn their respectable livelihood,” he added.

The Pakistan Poverty Alleviation Fund (PPAF) had been mandated by the government to mobilise, monitor and implement PM IFLS, he informed.

PPAF General Manager Farid Sabir said, “There is strong cohesion between PM’s vision of PPAF to strengthen the capacity of civil society organisations to engage in government’s mandate for poverty alleviation.”

The scheme targeted those households who had the poverty score of up to 40 on the Benazir Income Support Programme poverty score card adding that IFLS criteria was simple as the applicant should be a dignified citizen, belonging from a less-developed area, he added.

PPAF engaged 26 partner organisations, established 291 centres and covered 44 districts and 437 Union Councils, he informed.

“The PMIFL Scheme is envisaged to provide interest free loans plus services to people at their doorsteps so that those who are lacking access to financial services may have resources that can change their lives,” he added.

Salma Boota of Narowal told that she received a loan of Rs 20,000 under the PMIFL Scheme and purchased raw material for starting a football stitching centre.

“I am currently being supported with my staff of four employees and manage to earn on an average Rs 15,000 per month. The PMIFL loan has created a remarkable difference in my life,” she remarked.

Published in Daily Times, February  15^th 2018.