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     September 18,  2015



Councilors demands write off small loans of micro finance banks

By Zahiruddin

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 agricultural loans.

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.



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