ISLAMABAD (Web Desk) – A meeting held in Islamabad on Monday with Finance Minister Ishaq Dar in the chair reviewed proposals for establishment of Pakistan Microfinance Investment Company (PMIC).

Briefing the meeting, Secretary Finance Dr. Waqar Masood Khan said that Pakistan’s micro financing needs will grow manifold by 2018 from the current 18 billion rupees.

He said that UK’s Department for International Development in collaboration with German Government-owned bank KFW is offering to contribute financial resources for microfinance operations.

The Minister directed Securities and Exchange Commission of Pakistan (SECP) to thoroughly examine all the details of the proposal and come up with concrete recommendations in this regard.