ISLAMABAD, March 5: The Nobel laureate and pioneer of micro-credit movement, Professor Mohammad Yunus, on Monday floated the idea of Saarc passport to broaden the regional bloc’s citizenship.
Speaking at a luncheon reception hosted in his honour by Prime Minister Shaukat Aziz, he said initially the facility could be extended to businessmen, intellectuals and professionals, allowing them a free movement across the region to understand the problems and challenges facing them, which were common in nature. He said Saarc passports may be issued to government leaders at a later stage.
He called Pakistan a leader of Saarc and said Saarc countries should share best practices to change the quality of life of their people.
He appreciated the progress made by Pakistan in the micro-finance sector and said it had done everything that was needed to be done. “It is lucky to have an enabling environment and regulatory framework in the micro-finance sector which is at a take off stage,” he said.
Prof Yunus said micro-finance was not just about lending money, but was a tool to unleash the potential and energies of low income groups. “Micro-finance is the best way of reaching out to the forgotten,” he said.
Mr Aziz said the government was making interventions to cause a dent in poverty. As part of its sustainable poverty reduction strategy, the government was focusing on creating income-generating avenues for the poor, specially the womenfolk, through microfinance institutions.
He said in order to ensure that benefits of the economic growth should reach all sections of the populace the government had implemented a poverty reduction strategy, built upon four pillars. He said they included growth, investment in human development, promotion of self-employment through micro-finance, and social safety nets for the most vulnerable groups.
Underlining the government’s commitment to increase the coverage and outreach of micro-finance credit in Pakistan, Mr Aziz said banks and entrepreneurs should also set up micro-finance institutions to help the less privileged sections of the society to improve their living standards.
Professor Yunus also called on President Gen Pervez Musharraf and briefed him on the function of the Grameen Bank. The Pakistan government had taken giant strides for promoting micro-finance credit facility in the country, he added.
He said the legislative framework developed in Pakistan for micro-finance credit was a pioneering step.
The president directed the country's finance managers to develop innovative methods for extending micro-finance credits at the grass-root level to help enhance job opportunities and eradicate poverty.
President Musharraf directed the finance team to exchange ideas with the Grameen Bank so that its successes could be replicated in Pakistan.
Earlier, delivering a lecture on micro-finance credits, Prof Yunus advised Pakistan to ensure poor people's access to micro-credits for a steady movement towards the goal of poverty alleviation.
Mr Yunus, who is being acclaimed across the world for trailblazing in micro-credit, pointed out that 80 per cent poor people in Bangladesh had access to micro-credit.
He observed that microfinance loans were highly beneficial for the poor segment of the society and provided and opportunity to earn livelihood in a respectable manner. Professor Yunus, who runs Grameen Bank, said this system was gaining strength in Pakistan and it may greatly help to bring about positive change in the lifestyle of the people with special regard to the poor lot.
He lauded the initiatives taken by Pakistan towards poverty alleviation by a focus on microfinance sector.
He said setting up of Microfinance Bank and Khushhali Bank backed by political support and friendly policies of the State Bank of Pakistan were welcome signs.
