Peshawar: The Khyber Pakhtunkhwa (KP) government and Akhuwat Foundation have signed an accord to launch the ‘Interest-Free Microfinance Scheme (IFMS)’ aimed to encourage entrepreneurship and cottage industry in newly merged districts, according to a news source published on April 1.
Reportedly, the IFMS initiative will offer small-scale loans of up to PKR 75,000 to finance small and medium entrepreneurs operational in the newly-merged districts. The loan scheme will involve a revolving fund of PKR 1 billion. Under the IFMS, a 25% quota has been reserved for women, 5% for disabled people and 2% for the transgender community.
A ceremony in this regard was held on Thursday at KP Chief Minister’s residence with Chief Minister Mahmood Khan as chief guest. The interest-free loan will facilitate as many as 219,000 people of the merged areas over the next 13 years.
Regarding the development of merged districts, Minister Mahmood Khan said that the KP government will extend the initiative into other districts in a phasewise manner, starting from the underdeveloped areas.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
