PESHAWAR: The Khyber Pakhtunkhwa government has signed an agreement with Akhuwat Foundation to launch interest-free microfinance scheme for entrepreneurship development in the merged tribal districts.

Under the scheme, small loans of up to Rs75,000 would be provided to entrepreneurs of the merged areas, according to an official statement issued here on Thursday. The scheme aimed at promoting small and medium enterprises and cottage industry would have revolving fund of Rs1 billion.

Under the scheme, 25 per cent quota has been allocated for women, five per cent for special persons and two per cent for transgender people. The statement said that the agreement was signed with Akhuwat Foundation, a nonprofit private organisation, to launch the interest-free microfinance scheme.

Chief Minister Mahmood Khan witnessed the ceremony which was also attended by CM’s special assistant on industries Abdul Kareem, secretary industries Javed Marwat, Akhuwat Foundation chief executive officer Dr Amjad Saqib and senior officers.

Govt, NGO sign agreement

This loan scheme is being executed through Akhuwat Islamic Microfinance which is already implementing an interest-free scheme worth Rs500 million in merged areas.

This is the second important scheme under which more than 219,000 people of merged areas would be facilitated over a period of next 13 years. Loans would be totally interest-free and provided on merit, the statement said.

On this occasion, the chief minister termed this initiative as another important step of the provincial government towards economic prosperity of tribal districts. He said that small and medium enterprises and cottage industry were the backbone of national economy.

He said that SMEs and cottage industry could not flourish without financial support and that’s why the government was going all out to provide financial grants. He said that the provincial government would also start interest-free loan scheme for the settled districts in phases, starting from the backward areas.

APP ADDS: Chief Minister Mahmood Khan on Thursday inaugurated buses specially designed by the Sports and Tourism Department here for persons with different abilities along with special player Mesmat Shiraz.

Two buses have been developed for special players, which would enable them to reach the sports ground easily, said the chief minister while speaking on this occasion.

Secretary sports and tourism Abid Majeed and KP director general sports Asfandyar Khan Khattak were also present on the occasion.

The chief minister said the government was taking all possible steps to facilitate the persons with different abilities.

Published in Dawn, April 2nd, 2021