Sunday, August 14, 2022

Govt to announce micro-finance policy for common man: Jawanbakht

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LAHORE: Punjab’s Finance Minister Hashim Jawanbakht Tuesday said that in the new Pakistan, micro-finance being given due importance, ARY News reported.

He was addressing third annual Mictor-Finance Network conference here.

The minister said that the government working on a micro-finance policy for betterment of the common lot.

Jawanbakht said that now the time has ripe to launch our own schemes. He said the features of the Islamic micro-finance resemble the state of Madina.

“Prime Minister Imran Khan wants to promote Islamic micro-finance in the country to improve the economy,” he said.

Punjab finance minister said that the development of the agriculture sector is essential for the economic progress and the government will announce a micro-finance programme for the agro-based economy.

Replying a question of media on the occasion, the minister said that the mini-budget will be announced by the federal government, we will see its impact on Punjab.

The micro-finance sector had initially emerged to provide micro-loans to small entrepreneurs and businesses lacking access to bank and related services, has now emerged in Pakistan and other parts of the world as a larger movement whose object is to ensure availability of affordable, high quality financial products and services, to the poor and marginalized segments of the society.

It is mostly believed that such access will help poor people out of poverty, and it is a way to promote economic development, employment and growth through the support of small businesses.

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