Punjab Skills Development Fund (PSDF) signed a Memorandum of Understanding (MoU) with Akhuwat to help PSDF-funded trainees get access to Akhuwat interest free microfinance loans enabling these trainees to start their own business. Chief Executive Officer (CEO) PSDF Ali Sarfraz and Executive Director Akhuwat Dr Muhammad Amjad Saqib inked the agreement on behalf of their organisations at a simple ceremony held at the PSDF head office here the other day.
The purpose of the MoU was to develop a liaison between PSDF-funded trainees and Akhuwat for facilitating PSDF trainees so that they can avail micro-finance loans. PSDF will also share the relevant information about Akhuwat with its trainees so that they can easily avail these loans which will enable them in starting their own business. The collaborative effort will prove to be a landmark initiative for the PSDF-funded trainees who want to become entrepreneurs but they are unable to do so having limited resources. The initiative will be a hope for poor trainees who want to start their own business or enterprise. During the MoU signing Ceremony, PSDF CEO Ali Sarfraz explained that the Fund would provide information to PSDF-funded trainees about Akhuwat and its locations in different districts. He said it would help the trainees to understand the whole process. He further elaborated that a combined brochure of Akhuwat and PSDF, containing the basic information about Akhuwat and eligibility criteria for getting loans from Akhuwat, will be developed. To further augment the facilitation, PSDF will also include branch locations of Akhuwat on its website.
Executive Director Akhuwat Dr Muhammad Amjad Saqib said special preference will be given to PSDF-funded trainees so that they can avail microfinance loans in operational areas of Akhuwat. He said that Akhuwat will provide all information about its branches locations to PSDF and also dedicate a contact person for dealing with PSDF-funded trainees.