PR No.286 Islamabad

221,002 interest free loans amounting to around Rs 5 Billion have been disbursed to the poorest of the poor in 44 economically deprived districts of the country under the Prime Minister’s Interest Free Loan Scheme so far.  This was reported by the Chairman of the Steering Committee of Prime Minister’s Interest Free Loan Scheme, Dr. Amjad Saqib in his briefing about the program to the Chairperson Prime Minister Youth Program Ms. Leila Khan at Prime Minister’s Office today.  He also pointed out that 62% of the beneficiaries were female.


The Chairperson expressed satisfaction at the achievements of Prime Minister’s Interest Free Loan Scheme, under which Pakistan Poverty Alleviation Fund (PPAF) has been able to reach the economically deprived people from 287 Union Councils of 44 districts across Pakistan.  She appreciated the 99% recovery rate of the scheme due to which the recovered amount has been utilized to benefit additional eligible beneficiaries.


Ms. Leila Khan remarked, “One of the major achievements of the program are the 50,000 BISP beneficiaries who have now joined the PMIFL scheme and are now running their own successful ventures instead of relying on cash grants by the government.”