THE IMPACT OF MICROFINANCE ON HOUSEHOLD WELLBEING; AN EVALUATION OF WASEELA-E-HAQ PROGRAM BY BENAZIR INCOME SUPPORT PROGRAM

Abstract

The Waseela-e-haq program is considered to ensure capacity building with innovative techniques and entrepreneurship skills to make poor people self-sufficient especially women. Thus, by considering the underline objectives of the scheme, impact analysis of microfinance on household wellbeing was conducted. The study is based on primary data which was collected through structured questionnaires distributed among 203 respondents from district Mardan. The assessment was done with incorporating logistic regression as statistical tools. Results of the study indicate that the program was effective in achieving household wellbeing collectively; however, it shows different significance with variables considering the priorities of poor households regarding their spending behavior. Although the loan is provided to female beneficiaries, the results specify that 78.33 percent of the loans were utilized by males and highlights the cultural constraints and minimum opportunities for female in our society. Income, consumption and savings were improved due to microcredit but due to high value, assets accumulation still shows negative relationship. Moreover, due to miserable conditions of poor households majority of the loans were used in food consumption and health expenditures where as female empowerment shows insignificant relation.