Abstract
Today, in the presence of highly competitive business environment, the current condition of Pakistan’s economy is not so good, as many people are unemployed and are also willing to use the facility of micro-financing for bringing changing in their life and change the ways of living standards. Micro-financing institutions has number of different independent variables which need to be properly monitored in order to reduce the poverty level of the people and once the poverty level is improved, the overall Standard of Living of people in Pakistan will also be improved as they are correlated with each other. In simple context, it can be analyzed; the poverty level is directly proportional to the standards of living of people in Pakistan. The economic growth can only be considered in the positive context if the challenges related to the poverty are properly addressed. However, micro-financing institutions and the loan facility provided by these banks are considered as the key parameters in bringing improvement in the transforming standard of living of people in Pakistan. In this research context, questionnaire technique has being utilized to evaluate and measure the standard of people living in Pakistan through availing the loan facilities and how they have been able to address the challenges related to the poverty level, thus resulting into overall improvement of the standard of living of Pakistan citizen. Questionnaire has developed on the basis of the variables. The research study has evaluated the impact of variables linked with Bank loans in transforming standard of living in Pakistan through measuring these variables relationship. The data collected by the respondents has being analysed through implication of tests that includes correlation and regression. The research findings have reflected that through availing the loan facilities provided by the micro-financing institutions, living standards of the people is being improved and will also improve in future. Key words: Micro financing institutions, Standard of living, economic growth, poverty, economy
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