BUNER: The flood-affected traders of Buner Pirbaba have demanded interest-free loans for the restoration of their business and stop deceiving the people through empty cheques being given to the affected community of Pir Baba and Beshoni.
The call comes at a time when many businesses in the area are struggling to recover from multiple challenges resulting from natural disasters like cloud bursts and devastating floods. In particular, small and medium-sized enterprises are finding it increasingly difficult to continue their business as most of their investment was washed away in the flood.
Local business owners and the President of Pirbaba Bazazar Seed Wahid said that the only welfare organization that supported the flood victims, and government support is nominal, to restore the routine business of the people. He said, “Our businesses have already been hit hard by the flood, and we need interest-free loans and financial relief to restore our business,” Seed Wahid remarked.
Business associations have formally submitted a request to both provincial and federal government authorities, requesting the establishment of a special fund for interest-free loans that can be distributed to businesses based on need and recovery potential. They stressed the urgent need for such measures to prevent the complete collapse of the local economy, especially in light of the ongoing challenges of flood flood-affected situation.
Experts say that providing interest-free loans could act as a catalyst for economic recovery in Buner and similar districts. “Small businesses are the backbone of the local economy, and without adequate financial support, the situation could worsen,” said Peshawar-based economist Dr. Hamid Ali Khan. “Interest-free loans are a way to help businesses recover without the additional burden of interest rates, allowing them to reinvest in their operations and create much-needed jobs.
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