Akhuwat and Centre for Women Co-operative Development (CWCD) will offer interest free loan amounting Rs 25,000 to Rs 100,000 to the Technical and Vocational Training Authority (TEVTA) graduates to start their own business for self-employment. Akhuwat and CWCD will allocate Rs 5 million and Rs 10 million for this scheme annually.
An MoU in this regard has been signed between TEVTA, Akhuwat and CWCD the other day at TEVTA Secretariat. Chief Operating Officer TEVTA, Abid Javed, Executive Director Akhuwat, Dr Amjad Saqib, Chief Executive Officer CWCD, Farida Tariq signed the MoU. Chairman TEVTA, Saeed Ahmad Alvi and other officers of these organisations were also present on the occasion.
This is in line with the Chief Minister Punjab's vision to not only impart training to youth but also help them establish themselves through such entrepreneurship support Schemes. According to the details of the agreement, the name of the project will be "Akhuwat - CWCD - TEVTA Interest free Islamic Microfinance Programme.
This project will be managed and supervised by a three-member steering committee (SC) which will finalise annual work plan and credit disbursement targets. To facilitate the TEVTA graduates and spread over the utility of this programme, one desk office of the programme will be established at each selected TEVTA offices.
The representatives of Akhuwat and CWCD will visit these offices weekly. They will receive applications and forward them to concerned staff of Akhuwat or CWCD for assessing and disbursement of loans on priority basis. This agreement would not only facilitate poor individual graduates with technical skills to start their own businesses but eradicate poverty and bring prosperity in the society.
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