Minister launches interest-free loan scheme for railway porters
Business
A railway porter to get Rs50,000 interest-free loan
(Web Desk) - Federal Minister for Railways Hanif Abbasi on Tuesday announced a comprehensive welfare initiative aimed at empowering Pakistan Railways porters (coolies) and low-grade employees, as part of broader structural reforms to revamp the institution.
Speaking at the launch ceremony of the scheme at Lahore Railway Station, the minister said the government is committed to overhauling the Pakistan Railways by introducing reforms that not only modernize operations but also restore the dignity and rights of its workforce.
“We are determined to revamp railways and improve lives of those who serve it,” Abbasi stated.
The welfare programme, formalized through a Memorandum of Understanding (MoU) between Pakistan Railways and Akhuwat Islamic Microfinance, will provide interest-free loans of up to Rs 50,000 to registered porters. Those with a minimum of two years of service will be eligible, and the loans will be repayable in 20 monthly installments.
A unique component of the scheme is a death coverage benefit: by contributing an extra 1% above their monthly installment, porters will be covered by a death insurance plan offered by Pakistan Railways.
Abbasi also announced that Rs 4 million has been allocated for the welfare of Railway Police constables from Grade 1 to 5, and that porters at major stations—including Rawalpindi, Karachi, Multan, and Khanewal—will benefit from this new financial support initiative.
