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| December 23, 2006 | Saturday | Zilhaj 01, 1427 |
Aziz stresses expansion of micro finance net
ISLAMABAD, Dec 22: Prime Minister Shaukat Aziz has emphasised the need to expand the micro credit outreach to at least one million households by the end of the next year. Presiding over a meeting here on Friday to review the progress of micro financing in the country, the prime minister directed the high-ups of the National Rural Support Programme, Pakistan Poverty Allocation Fund and Khushali Bank to make an all-out effort to achieve the target.
Mr Aziz said that micro credit was an effective enabler to generate economic activities, reduce poverty and improve living standards. Its coverage needed to be increased on fast track so that more people could benefit from the programmes.
The prime minister said Pakistan had in place a sound legislative framework that could help achieve the target of bringing one million households in micro finance network in a year.
He said an integrated approach needed to be adopted for the success of micro financing programmes and organisations implementing the programmes should focus on mobilising more funds, hiring and training of people to deliver large portfolios and preparation of processes.
The prime minister emphasised that while increasing coverage of micro finance programme from the present 800,000 to one million, priorities should be given to low-income areas.
Mr Aziz said that several villages had come out of the poverty net as a result of social mobilisation and micro finance network and the examples should serve as a model for other villages.
The prime minister said that President Gen Pervez Musharraf had attached great importance to the micro financing as it had proved to be an effective method to help the people help themselves.
He said micro financing programmes remained one of the special areas of focus during the last seven years and the organisations related to it significantly developed and resources were provided to them to reduce poverty and bring improvement in the living standards.
The prime minister said that a large number of women were availing the micro financing facility that was contributing to the economic empowerment of women.
He said the government would further expand the micro financing programme for which a detailed strategy was being worked out with the State Bank of Pakistan.
The meeting was also attended by Minister for Industries and Production Jahangir Khan Tareen and Minister of State for Finance Omar Ayub Khan.
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