Poverty is widespread in Pakistan, particularly in rural areas and urban slums. There is rising unemployment and generally a lack of income earning opportunities, particularly for women. Users can fimd all details about Prime Minister Interest Free Loans Qarz-e-Hasna Scheme 2016 Download Form Complete Procedure. In his last address during the election campaign, the Prime Minister committed to bring productive micro-loans to the doorsteps of the poor so that those who are unbanked and/or are lacking access to financial services may have resources to micro-enterprises, enhance their incomes, and improve the quality of their lives.
In response, the Government of Pakistan has committed Rs. 3.5 billion to the Prime Minister’s Interest Free Loan (PMIFL) Scheme. Through which productive micro-enterprise activities will be supported through a maximum loan of Rs. 50,000 for those upto 40 on the Poverty Score Card (PSC). It is mandated that 50% of the loans will be disbursed to women.
Prime Minister Interest Free Loans Qarz-e-Hasna Scheme 2016 Download Form Complete Procedure
The Prime Minister’s Youth Programme comprises of six initiatives in total, one of which is the Prime Minister’s Interest Free Loan (PMIFL) Scheme. The Programme is managed by the Prime Minister’s Secretariat, and supported by a PMIFL Steering Committee, specially set up to guide and mentor the Programme.
PPAF has been chosen to implement this Programme through its credible Partner Organizations (POs). The Programme process is as follows: As per procurement guidelines, PPAF will put up a public advertisement for Request for Proposals (RFPs); Desk appraisals will be undertaken for existing POs; Field Appraisals will be undertaken for existing POs; Desk appraisals, followed by institutional assessments and field appraisals will be undertaken for new POs
- Reducing Operating Costs: As the union council based community loan centers (CLCs) mature, becoming more independent and confident, the PO loan center or branches will pass on tasks and responsibilities to them, thus bringing a reduction to their overall management and supervision costs. Well-mobilized communities can spark local volunteerism through loan graduates, youth and local influential, thus bringing down human resource cost.
- Increasing Loan Portfolio: Mobilized communities can tap philanthropic contributions from individuals and successful businesses or entrepreneurs in the area. Through it’s Karobar Rahnomai Markaz (KRM), the PMIFL will leverage local enterprise activities for a small fee, including the development of feasibilities, imparting of skills and enterprise training, and market linkages.
|Sindh(11)||1. Thatta||2. Badin||3. Sanghar|
|4. Karachi||5. Khairpur||6. Shikarpur|
|7. Kashmore||8. Karachi West||9. Dadu|
|10. Ghotki||11. Tharparker|
|Punjab(13)||1. Layyah||2. Muzaffargarh||3. DG Khan|
|4. Multan||5. Bahawalnagar||6. Norowal|
|7. Jhang||8. Khushab||9. Bhakkar|
|10. Lodhran||11. Nankana Sahib||12. Rajanpur|
|Balochistan(15)||1. Pashin||2. Kharan||3. Quetta (Rural)|
|4. Ziarat||5. Panjgoor||6. Lasbela|
|7. Zob||8. Gwader||9. Kech/Turbat|
|10. Loralai||11. Noshaki||12. Killa Saifullah|
|13. Killa Abdullah||14. Awaran||15. Musa Khail|
|Khyber Pakhtunkhwa[KPK](15)||1. Shangla||2. Batagram||3. Haripur|
|4. Swabi||5. Swat||6. Buner|
|7. Upper Dir||8. D.I.Khan||9. Lower Dir|
|10. Kohistan||11. Bannu||12. Mansehra|
|13. Laki Marwat||14. Chitral||15. Charsada|
|Azad Jammu Kashmir(5)||1. Muzafarabad||2. Nelum||3. Kotli|
|4. Hattian||5. Havelli|
|Gilgit Baltistan(4)||1. Skardu||2. Ghanche||3. Astore|
The above process would demand at least 2-3 appraisal cycles and disbursement rounds. After each appraisal cycle, recommended proposals would be taken to the PPAF Credit Committee and Board of Directors for approval. The selected POs would then sign a legal financing agreement, and agree to an Implementation Plan (IP). The fund would then be disbursed to the designated bank account opened by the partners for this purpose. Stay in touch with us and get some more updates about Prime Minister Scheme 2016.