Thursday, June 13, 2024


By Baqir Shah, Agriculture Information Bank Contributor

While nearly 40% of the populations live on or below the poverty line, and      the continuous efforts of the Government to eradicate poverty, have yet to bring results.

Yet, it does not have control of rising prices and creations of jobs for the unemployed & low income group. Bearing this situation in mind, we have envisaged a plan for the poor to stand on their own feet, on self help basis.


This function will be launched through all the Labour Unions of the country, The branches of the Bank will the Labour Union Offices.  All registered members of the Union will be entitled to open an account in the Bank.  The account can be opened for low amount of Rs 60.00 p.m. All the account will be deposited the Poor Mans Bank, Head office locatedat Karachi. The Board of Directors of Bank will be the Head of the Unions who will examine and approve collective measures to advance loans in kind only up to the value of Rs 5000/- to avoid defaults. Cash loans will be considered for approval on the guarantee of the Head of the UnionThe Bank will operate on Non Profit basis, & charge 10% service charges.

Benefits for the Accounted

The account holder will get the following benefits.

1. Loans in Cash or Kind to start their own business, as mentioned above.

2. Classes will be arranged to educate them as skilled labor, 

3. Free Accident Policy of Rs 100000 on accidental & Rs5000 for injury on                            


4. Other benefits will be arranged to assist our workers, due course.

Banks Performance

Initially we expect to get around 60,000 members to start the function of the Bank. ie 60,000 x 60 = Rs 36,00,000 per month. A hand some amount for a beginning .  The amount left after its function i.e. idle will be invested in short term deposits with commercial bank and the profit added to the capital held.

The figures mentioned above are hypothetical and the final figures will appear as we go on the launch the scheme. We are confident that we will receive the Government’s Patronage & assistance in this regard.

Proposal by Baqar Shah


Copyright Agriculture Information Bank

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