The State Bank of Pakistan (SBP) offered interest-free loans for female borrowers.
SBP interest-free loans for women: Fazal Muqeem, Deputy Chief Manager of SBP in Dera Ismail Khan, made the announcement during a seminar on “Women Bankability and Banking on Equality” at the Government Polytechnic Institute (GPI) for Women.
According to Muqeem, assisting women in starting their own enterprises will not only make them stronger but also provide them the ability to support their families and give their kids a better education.
Muqeem stated that entrepreneurship may hold the answer to addressing the problem of rising costs, which affect everyone but are especially detrimental to those with low incomes. According to him, the government is developing policies with the SBP to help unemployed women find employment and become contributing members of society.
Due to these policies, unemployed women can now open bank accounts and receive interest-free loans up to Rs500,000 just like men.
Muhammad Zubair, the assistant director, asked everyone to adopt digital technology and to file income taxes in order to lessen their tax burden.
Sara Khan, the principal of GPI for Women, thanked SBP for helping to develop students’ independence. She claimed that this regulation will eventually help a lot of women.