In a significant move towards bolstering economic stability and promoting female inclusion in the labour market, the State Bank of Pakistan (SBP) has initiated a scheme offering interest-free loans to unemployed women aiming to establish large-scale businesses. Fazal Muqeem, the Deputy Chief Manager of SBP in Dera Ismail Khan, highlighted the move during a seminar at the Government Polytechnic Institute for Women.
Muqeem emphasized that, with limited employment opportunities and rampant inflation, such an initiative empowers women to support their families and combat financial challenges. Furthermore, the central bank also facilitates opening bank accounts for these women, ensuring they can access interest-free loans up to Rs 0.5 million.
Promoting Digital Literacy and Financial Independence
Assistant Director Muhammad Zubair stressed the importance of the digital age, urging citizens to embrace mobile app technologies and consider becoming income tax filers to enjoy tax benefits. Principal Sara Khan of the GPI for Women appreciated the bank’s initiative, asserting that such a policy would aid numerous women.
Khan also emphasized the role of educational institutions in equipping students with essential skills, making them self-reliant and valuable contributors to society. The seminar witnessed participation from key figures, including SBP officials and many educators and students.
