PMIFL says 9.7 billion rupees issued as “interest free loans”

By Staff Reporter
Wednesday – March 21, 2018
ISLAMABAD: Prime minister (PM) Shahid Khaqan Abbasi chaired a briefing on the progress of PM’s interest free loan scheme (PMIFL) on Tuesday, it was informed that an amount of Rs 9.7 billion has been disbursed so far under the programme with 409,805 loans given countrywide including the federally administered tribal areas (FATA), Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan (GB).

According to an official statement, Abbasi was informed that the interest free loan scheme, a poverty alleviation initiative of the incumbent regime, has been recognised worldwide as one of the most effective tool in fighting menace of poverty and enabling the poor earn a decent livelihood.

He was informed that 99 percent recovery rate was another manifestation of the success of the programme. The PM while expressing his satisfaction over the progress of the programme, appreciated the role of Pakistan poverty alleviation fund towards implementation of the programme in a transparent and effective manner.

Abbasi said that serving the poor segments of society has remained the foremost priority of the incumbent government and the government will continue making every possible effort to enhance the scope and reach of the programme through greater financial allocations.

The meeting was attended among others by PMIFL steering committee chairman Amjad Saqib, Pakistan poverty alleviation fund (PPAF) chief executive officer (CEO) Qazi Azmat Isa, Simi Sadaf Kamal and senior officials.