PKSF to Rid Micro-Loan of Bad Name
Sunday, 23 May 2010

Three days after lamenting his agency's 20-year legacy, the PKSF chief has said new initiatives were necessary to do away with adverse impacts of micro-credit.

Chairman of the Palli Karma-Sahayak Foundation (PKSF), known as one of the major micro-finance agencies in the country, Qazi Kholiquzzaman Ahmad, however, would not term the new initiatives as an 'exit plan'.

"We have to rid micro-credit of its bad impacts and of its bad name."

Kholiquzzaman Ahmad was speaking at a roundtable discussion meeting on Sunday attended by a number of MPs and high officials of the government.

He had said on Thursday that PKSF had walked a wrong for the last 20 years since its inception by becoming a micro-credit agency instead of taking up initiatives to generate rural employment as the agency's name suggests in Bengali.

He was unveiling a new initiative on Thursday when he came down heavily on micro-credit and questioned its potency although the small loan scheme is lauded across the world for its phenomenal recovery and rate of return.

When asked if the PKSF might face external pressure in implementing its new scheme targeting household development with increased emphasis on education and health, Kholiquzzaman said it would not.

Source: bdnews24.com

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