The Akhuwat Foundation and Karachi businessmen will provide interest-free loans to small businesses with their help. Sharjeel Goplani The first office is being set up in Karachi on the occasion of World Environment Day on January 30 It will set up offices in every district of Karachi and provide interest-free loans to small businesses so that they can reactivate their businesses. Muhammad Sharjeel Goplani, PresidentAll City TajirIttehad Association and President Karachi Timber Merchants Group, and Nazir Tonio, DirectorAkhuwat Foundation, have jointly announced the issuance of interest-free loans forcity traders. Goplani, and Nazir Tonioannounced the joint plan at a joint press conference here on Monday.
“We have repeatedly asked the government of Pakistan to announce interest-free loans for the beleaguered traders of Karachi so that they can improve their business and take control of the domestic situation. Now we’ve talked to the Akhuwat Foundation and created a self-help program. Under which interest-free loans will be provided to small traders.
Fifty percent of the capital will be provided by All City TajirIttehad Association and other half by the Akhuwat. For the last twenty years, small loans have been given all over Pakistan under the scheme of Akhuwatt Foundation.
“We are launching a joint microfinance scheme. Its head office is being set up at Karachi Timber Merchants Group. We are opening our first office in Karachi on January 30 on World Environment Day. From where we will start giving loans. After this, the scheme will be expanded by setting up another office in Liaquatabad and similarly in other central areas of Karachi in phases. Goplani said in this regard, we have the support of Nazir Tonio, Director of the AkhuwatFoundation.
The terms and conditions of the loan are the same as those of the Akhuwat Foundation and all its affairs will be monitored jointly by the Foundation and the Asoociation.
MrGoplani said,“We will set up offices in every district of Karachi and provide interest free loans to small traders so that they can reactivate their businesses.”
ChiefGuest of the event, Irshad Sudhar, Deputy Commissioner South, said that most of the business in Karachi but also in Pakistan is done in District South. “That is why the loan scheme for small traders is being started from here. For which Sharjeel Goplanideserves congratulations. He appreciated the efforts of Goplani in this regard.
