Pakistan Baitul Mal (PBM) Managing Director Barrister Abid Waheed Sheikh has said that the organisation would help poor in establishing small businesses by extending interest free loans.
Talking to media, he said initially, Rs10 million have been allocated for the programme and grants ranging from Rs10,000 to Rs50,000 will be dispersed among downtrodden as Qarz e Hasna to help them establish small businesses. Interest free loans would help deserving people to stand on their own feet, he added. He said free of cost forms can be downloaded from the website of PBM.
He said that the PBM field officers will interview applicants and after that loans will be released to them.
He said that in future, budget would be further increased for the project to help people as much as possible.
Barrister Abid Waheed said that the aim of the project is to extend financial assistance to the poor sections of the society.
He said he has adopted measures to promote transparency, efficiency and accessibility in PBM.