An impact of Microcredit and Microfinance to reduce unemployment in Pakistan : A review on Khushhali Bank

Abstract

Today, the Pakistan’s economy faces many issues and problems due to energy crises. Microcredit and microfinance is simply the small amount of loan provided to the individuals to establish their own small setup or to improve their current business conditions. This microcredit and microfinance helps them regarding the growth of business and establishing new business in the market to reduce unemployment. The main purpose of the microcredit and microfinance institution is to support the poor people which are living under the line of poverty. The main aim is to change the way of living standards which directly effects the development and growth of the economy of Pakistan to make it stronger and to create new business opportunities in the local market. The microfinance and microcredit institutions help and support the poor people of Pakistan. Khushhali microfinance Bank focuses on the work task about the development of new policies and procedures to compete other microfinance and microcredit institutions and participate more to reduce the unemployment from Pakistan by providing them loan amounts to fulfill their demands.