Members of the National Assembly and Senate appreciated the Microfinance Institutions for the efforts done to provide honorable living means to the poorest people of the country through Micro Credit. It was said that more clientage should be achieved in the province of NWFP and Balochistan as the Microfinance Institutions seem to be concentrated just on Punjab and for some parts of Sind.
During the briefing session, an overview of the Microfinance was presented along with Challenges facing Pakistan. Moreover, a case study on Microfinance in India was also presented. Members of the Parliament appreciated the Microfinance Institutions for the efforts done to provide honorable living means to the poorest people of the country through Micro Credit with a few concerns on the interest rates charges on the micro credit provided however this was answered by the leading experts on Microfinance present in the session, that, Microfinance providers charge higher interest rates due to the charging of high interest rates by commercial banks, the main source of money lending for utilization in providing Micro Credit.
Mr. Ahmed Bilal Mehboob, Executive Director of PILDAT said that the briefing session is conducted so that public representatives can get know how on the Microfinance and to help the work of Microfinance Institutions working in Pakistan.
Speaker from the India, Mr. Sanjay Sinha, presented an overview of Microfinance in India and discussed about the growth in the Microfinance sector in India. He said development in the sector has been seen in past few years.
Dr. Attiya Inayatullah, member of the national assembly presented an overview of Microfinance in Pakistan in context to poverty alleviation. She said that public representatives need to support the work done by the Microfinance Institutions as the clientage is very low and potential is great.
Ms. Roshaneh Zafar presented a detailed overview of Microfinance in Pakistan and the challenges Microfinance facing in Pakistan. She highlighted security concerns for the Microfinance Institutions in a few parts of NWFP and Sind.