Honorable Chief Adviser inaugurates PKSF Bhaban-2
Dr Muhammad Yunus, the Honorable Chief Adviser to the Government of the People’s Republic of Bangladesh, inaugurated PKSF Bhaban-2, a second building PKSF has constructed as part of its initiatives to extend services to marginalized and low-income people of Bangladesh in support of their efforts to improve their lives and livelihoods. While inaugurating the building in Shyamoli, Dhaka today, he expressed hope that PKSF’s capacity would be further strengthened in achieving this objective.
The Honorable Chief Adviser said, “Human beings are born to be entrepreneurs; they did not come to this world to do jobs.” Recalling his close involvement in the establishment of PKSF, he stated that the institution’s current capacity is commendable and should be harnessed to make greater investments in social business through its Partner Organizations (POs). “Our journey towards poverty alleviation has been long; our preparation is sound; now we must begin our work on a larger scale.”
Dr Salehuddin Ahmed, Adviser to the Ministry of Finance and the Ministry of Science and Technology, attended the event as the Special Guest. The program was presided over by Zakir Ahmed Khan, Chairman of PKSF, and the welcome address was delivered by Md Fazlul Kader, Managing Director of PKSF.
Dr Salehuddin Ahmed said that PKSF is a world-class organization. Major international development partners place their trust in PKSF because of its transparency, accountability, and effectiveness. However, noting that PKSF is not dependent on these development partners, he stated, “PKSF’s own financial capacity is its greatest strength. … PKSF has not only expanded itself but also facilitated the growth of its Partner Organizations.” He called upon PKSF and its Partner Organizations to further accelerate their ongoing activities in education, health, and skills development alongside microfinance.
PKSF Chairman Zakir Ahmed Khan said that PKSF began its journey in fiscal year 1990–91 with a fund of only BDT 24 crore. Currently, PKSF’s outstanding loan to its Partner Organizations at the field level stands at BDT 14,000 crore, with only 0.67% of the amount is overdue. This financing has played a vital role in generating a loan outstanding of BDT 86,000 crore for the Partner Organizations. Recalling the contribution of Dr Muhammad Yunus in establishing this successful institution, he said, “Based on his guidance, PKSF was established with an entirely different approach—using the Government of Bangladesh’s own resources and management. From the very beginning of PKSF’s journey, and during his two decades of service as a Member of its Governing Body, the role of Dr Yunus in providing a strong foundation to this institution was immeasurable.” He also highlighted the significant role of PKSF’s unique institutional and governance structure in its success.
In the welcome speech, PKSF Managing Director Md Fazlul Kader said that there are two reasons that add to the festivities of this special day. “First, the strategic vision of the Honorable Chief Adviser to the Government of Bangladesh, and his guidance in shaping PKSF’s strategic policies during his nearly two-decade-long stint as a distinguished Member of its Governing Body, helped consolidate the institution’s activities. The second reason is that the Honorable Adviser to the Ministry of Finance, Dr Salehuddin Ahmed, who is present on the stage, significantly strengthened PKSF’s financial and institutional foundation during his tenure as Managing Director from 1996 to 2005. It was also during his tenure that PKSF Bhaban-1 was constructed. Having both him and Yunus sir with us today at the inauguration ceremony of PKSF Bhaban-2 makes it a very special day for us.”
At the beginning of the ceremony, the Chief Adviser unveiled the inaugural plaque of PKSF Bhaban-2. A documentary on PKSF’s financial and other development initiatives and an audiovisual presentation, highlighting memorable moments of Dr Muhammad Yunus and Dr Salehuddin Ahmed with PKSF, were screened at the event.
Among others, the Cabinet Secretary, the Principal Secretary and the Press Secretary to the Chief Adviser, along with senior government officials, members of the PKSF Governing Body and General Body, representatives of various development partners, and chief executives of PKSF’s Partner Organizations, were present at the event.
At the end of the event, members of PKSF’s Governing Body and General Body joined the Honorable Chief Adviser and the Honorable Adviser to the Ministry of Finance for a photo session.
PKSF began its journey in 1990 with the objective of ensuring sustainable development of the poor through employment generation by providing financial services. In response to the growing needs of 22.5 million clients served through its Partner Organizations at the field level, PKSF Bhaban-2 has been constructed. This building will house an information center showcasing selected BSTI-certified products of entrepreneurs directly supported through PKSF’s Partner Organizations. In addition, PKSF’s research and training activities will also be carried out from this building.
