Councilors demands write off small loans of micro finance banks
CHITRAL; The members of district and tehsil councils from
Yarkhoon and Mastuj wards in upper Chitral have demanded of the
government to write off the small loans which the people of the
area have got from First Micro Finance Bank and Bank of Khyber like
Addressing a press conference here on Friday, member of district
council Rahmat Wali and members of tehsil council Mohsin Hayat
Shadab (Mastuj) and Mir Sahib Baig (Yarkhoon) said that flash
floods had inflicted a heavy loss on the residents of the areas
reducing them to abject poverty.
They said that the prime minster had announced to waive off only
the agricultural loans for the district but the people of Yarkhoon
and Mastuj will not be benefitted of it as they did not avail the
agricultural loans due to the complicated procedures of acquiring
farm loans and the absence of a branch of agricultural bank there.
They said that majority of the farmers had obtained small loans
from the local branch of First Micro Finance Bank whose value
ranged from 10 thousand to 80 thousand rupees for the purpose of
self employment while they had also availed the Bacha Khan Khud
Kafalat scheme from the Bank of Khyber.
The elected representatives of the area reiterated that waiving off
the small loans of the two banks will benefit thousands of people
of Yarkhoon and Mastuj which are known for their backwardness and
were single cropped zone which had been washed away by the floods
along with fruit trees.