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Growth Prospects Of Microfinance In Pakistan

Author

Listed:
  • Dr. Rizwana Bashir

    (Assistant Professor, Bahria University, Karachi)

  • Prof. Dr. Shafiq-ur-Rehman

    (Chairman, Department of Economics, University of Karachi)

  • Prof. Atif Hassan

    (Assistant Professor at Defence Authority College of Business)

Abstract

Microfinance institutions (MFIs) are globally considered as distinctly effective way to make living standard of the people better. The purpose of conducting this research study is to investigate the growth prospects of microfinance programs in Pakistan to eradicate poverty. The microfinance program has been operative in Pakistan since October 1972 in one form or the other. It was first launched by the then government to attack poverty. But the current development took place in 1990s in Pakistan when most of the MFPs were established in the form of Microfinance Banks (MFBs), Rural Support Programs (RSPs), Microfinance Institutions (MFIs) or others. The responses of MFPs were quite encouraging. Most of them have demonstrated the expansion in terms of number of branches as well as the borrowers. The outreach is also expanding during the time period studied (2006-08). Though the rate of growth is very slow and currently MFPs could serve only 11 percent of Prospective clients. Large number of MFPs also reported a repayment rate of 90 to 100 percent which witnesses the positive changes in the lives of their clients.

Suggested Citation

  • Dr. Rizwana Bashir & Prof. Dr. Shafiq-ur-Rehman & Prof. Atif Hassan, 2013. "Growth Prospects Of Microfinance In Pakistan," Far East Journal of Psychology and Business, Far East Research Centre, vol. 10(5), pages 40-50, January.
    • Handle: RePEc:fej:articl:v:10a:y:2013:i:5:p:40-50
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    References listed on IDEAS

    as
    1. Sarfraz K. Qureshi & G. M. Arif, 2001. "Profile of Poverty in Pakistan, 1998-99," MIMAP Technical Paper Series 2001:05, Pakistan Institute of Development Economics.
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    More about this item

    Keywords

    Microfinance Outreach; Empowerment of Poor; Poverty Eradication; Growth;
    All these keywords.

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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