Daily Times

Punjab’s Finance Minister Hashim Jawanbakt has said that in the new Pakistan, micro-finance is being given due importance.

In an address to Mictor-Finance Network conference, the minister said that the government working on a micro-finance policy for betterment of the common lot. The minister stated that now the time has come to launch new schemes.

He said the features of the Islamic micro-finance resemble the state of Madina. “Prime Minister Imran Khan wants to promote Islamic micro-finance in the country to improve the economy,” he held.

Punjab finance minister noted that the development of the agriculture sector is essential for the economic progress and the government will announce a micro-finance programme for the agro-based economy.

Replying a query, the minister stated that the mini-budget will be announced by the federal government, we will see its impact on Punjab.

The micro-finance sector had initially emerged to provide micro-loans to small entrepreneurs and businesses lacking access to bank and related services, has now emerged in Pakistan and other parts of the world as a larger movement whose object is to ensure availability of affordable, high quality financial products and services, to the poor and marginalized segments of the society.

It is mostly believed that such access will help poor people out of poverty, and it is a way to promote economic development, employment and growth through the support of small businesses.

Published in Daily Times, January 9^th 2019.