PKSF can meet just 16pc demand for loans

The Palli Karma-Sahayak Foundation (PKSF) can meet just 16 per cent of the total demand for loans among rural people across Bangladesh, according to Nomita Halder, managing director of the state-run financial institution.

"If sufficient funds were allocated, then it would have been possible to overcome this limitation and expand the scope of financing," she said.

Halder made these remarks while speaking at the inaugural event of PKSF Day 2022 at the Krishibid Institution Bangladesh in Dhaka yesterday.

With the slogan "Towards Development with Equity", PKSF celebrated the day for the first time through an elaborate program that reaffirmed its efforts to alleviate poverty through employment generation since being established in 1990.

Around 23 lakh microenterprises that are collectively worth Tk 2,894 crore are receiving financial and technical support from PKSF. Some 1.76 crore families in the country are members of the PKSF with 91 per cent of the beneficiaries being women.

Bangladesh has made significant achievements in development, and this march towards progress continues, Halder said.

However, discrimination, especially regional discrimination, is also rising at the same time. So, PKSF is working relentlessly to address this disparity, she added.

Badiar Rahman, first managing director of PKSF, termed their current activities as conventional and suggested scrapping these approaches.

"Sustainable development is not possible only by disbursing loans among rural people. For that, PKSF should work to bring great change in the 91,000 villages across the country," he said.

And although the PKSF has already begun this work, the organisation should do it robustly, Rahman added.

He then said that PKSF should take a new model and work for development with equity to improve the fate of the rural poor and distressed people.

Gowher Rizvi, the prime minister's adviser on international affairs, joined the event as chief guest via a video message and Sharifa Khan, secretary to the Economic Relations Division of the finance ministry, was present as special guest.

The event was chaired by PKSF Chairman Qazi Kholiquzzaman Ahmad.

Ahmad said that apart from economic growth, PKSF is working to develop human capacities as well.

Speaking on the occasion, M Syeduzzaman and Muhammed Farashuddin, former chairmen of PKSF, and Md Abdul Karim and Mohammad Moinuddin Abdullah, former managing directors, shared their experience and memories with the organisation.

They were honoured with crests for their contribution to PKSF.