PM approves strategy to expand microfinance outreach to 3 mln households
Thursday, February 15, 2007
Prime Minister Shaukat Aziz has approved the strategy to expand microfinance outreach from one million to three million households by 2010. He was chairing a meeting here Wednesday to review the strategy prepared by State Bank of Pakistan (SBP) to increase the coverage of microfinance sector in Pakistan.
The Prime Minister said Pakistan has come a long way in introducing and familiarizing the micro finance concept. However, strategic steps need to be taken and multiple approaches adopted for substantive up-scaling of microfinance facilities to benefit the people belonging to the resource deficit areas.
The Prime Minister said the government is focusing on improving the standard and quality of life of common man and added lack of capital can be a major impediment in their efforts to live a better life.
He said Micro credit facility is an effective enable to generate economic activities, reduce poverty and improve living standards. It will provide them opportunities to augment their income and move up the social ladder.