Microcredit yields linked with empowerment
Microcredit will not yield desirable results until poor communities are mobilized to remove factors that promote poverty, certain philanthropists have said.
Speaking at a workshop on poverty alleviation, they agreed empowering poor with small loans might partially address hunger and poverty. Even after paltry dole-out or loan, poor continues to live in slums and lacks pure drinking water and education and health facilities.
“Even the income generated through microfinance is insufficient to bridge the resource gap created by ever- increasing food prices,” Mohsin Syed, a philanthropist, said. He appealed to the planners to allocate more resources for skill training to enhance incomes of the poor. Their generations would live in extreme poverty if they continue to earn their living without market-based needs.
“Poverty is a socioeconomic curse, depriving individuals of food, shelter, education, healthcare, sanitation, pure drinking water and dignity,” said Ejaz Gohar, who provides Rs4.6 million monthly for kidney dialysis of 200 patients at Jinnah Hospital Lahore.