Pakistan Railways and Akhuwat Foundation Monday signed a memorandum of understanding (MoU) for releasing interest-free loans to the employees.
According to the 24News HD TV channel, the MoU was inked in a special ceremony held here in which Federal Minister Azam Swati, Ali Muhammad Khan and Akhuwat Foundation’s Chairman Dr Amjad Saqib also participated.
Addressing the ceremony, Swati said it was a historic day for the officers and workers of Pakistan Railways to get interest-free loans.
Swati said low paid employees of the railways would be provided interest-free loans for building their houses.
He said they were working for the usage of new technology in the railways and after installation of it, ghost employees would be eliminated automatically.
He also said that under the program, loans have already been approved for seven railway workers.
Addressing the ceremony, Akhuwat Foundation’s Chairman Dr Amjad Saqib said his organization would provide interest-free loans to all employees of the railways to build their houses.
He said his foundation has established a university for free higher education and railway employees could enroll their children in it.