State Bank of Pakistan (SBP) extends zero-interest loans to empower women entrepreneurs
The State Bank of Pakistan (SBP) is introducing
interest-free loans designed to empower unemployed women in launching
substantial business ventures. This initiative aims to foster economic
stability and boost the participation of women in the workforce.
During a seminar titled "Women Bankability and Banking
on Equality" held at the Government Polytechnic Institute for Women in
Dera Ismail Khan on Sunday, Fazal Muqeem, Deputy Chief Manager of SBP in Dera
Ismail Khan, unveiled this pioneering program.
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Muqeem emphasized that this initiative would provide women
with the opportunity to establish businesses that can support their families,
particularly in the face of inflation impacting all sectors of society. He
pointed out that initiating their own businesses offers a viable solution to
address the challenges posed by unemployment.
As part of the policies introduced by the Prime Minister in
collaboration with the central bank, unemployed women now have the right to
open bank accounts on an equal footing with men and access interest-free loans
of up to Rs0.5 million.
Assistant Director Muhammad Zubair stressed the importance
of embracing digital technology, becoming income tax filers, and the potential
benefits of these actions in reducing tax liabilities.
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Principal Sara Khan of the Government Polytechnic Institute
for Women expressed gratitude to SBP representatives and underscored her
institution's dedication to equipping students with the skills required for
self-sufficiency and productive citizenship. She anticipates that SBP's policy
will benefit numerous women in the future and hopes for the organization of
similar seminars to assist eligible women in Dera Ismail Khan.
Source: MinuteMirror