Rs50mn interest-free loan disbursed

FAISALABAD: As many as Rs 50 million were disbursed among 1,500 deserving families as interest-free loan under Akhuwat Micro Finance, Chief Minster Self Employment Scheme meant to make them an effective and self-reliance member of the society.

The ceremony was held at the Central Mosque, University of Agriculture Faisalabad in which UAF Vice Chancellor Dr. Muhammad Iqbal Zafar was the chief guest. While, Chairman Steering Committee Akhuwat Pervez Khalid, State Bank Chief Manager Waqas Kashif Bajwa, Incharge Cloth Bank Akhuwat Muhammad Aslam, Dr Nadeem, Institute of Horticulture UAF Director Dr Amanullah Malik, Dr Khalid Shouq, Akhuwat Regional Manager Khalid Mehmood,  Akhuwat Area Manager Abdul Rasheed and other notables also attended.

Dr. Muhammad Iqbal Zafar praised the measures adopted on the part of Akhuwat to hold the hands of those who didn't have any ray of hope for the betterment in their lives.

He added that poverty can be alleviated through education, and skilled manpower. He viewed that education works as the engine of a bright future of individuals and the society.

Pervez Khalid said that recovery rate of Akhuwat interest free loan is standing at 99 percent. He said that Akhuwat was set up in 2001 meant for giving interest-free microfinance to poor people to increase their standard of living. He said that Akhuwat is striving to alleviate poverty by creating a system based on mutual support in the society.

Waqas Kashif Bajwa said that interest-free loan of Akhuwat is being researched in the different countries as a successful model.

Dr Aman Ullah Malik said that interest free loan for the deserving people is the hallmark step that will bring the prosperity and address their problems.

Dr Khlaid Shouq said that it is a step towards making deprived segment of society self-reliance.