Islamabad:Prime Minister Shehbaz Sharif acknowledged the significant role of leading commercial banks in providing loans for housing, small and medium enterprises (SMEs), and the agricultural sector.
According to Radio Pakistan, the Prime Minister met with presidents and CEOs of top-performing banks to discuss the government's loan schemes for SMEs, the Apna Ghar program, and the agricultural sector. During the meeting, he emphasized that SMEs form the backbone of Pakistan's economy, and their development is crucial for generating employment and stimulating economic growth.
Sharif highlighted the government's initiatives that aim to grant financial access to citizens, entrepreneurs, and farmers. He noted that enhancing lending practices in SMEs, housing, and agriculture sectors would lead to increased employment, investment, productivity, and overall economic development.
The Prime Minister directed the State Bank of Pakistan to streamline the loan approval and disbursement process to allow more individuals to benefit from the schemes. He stressed the importance of agricultural financing, asserting that access to credit is vital for farmers to improve their output and ensure food security.
Moreover, Sharif instructed authorities to focus on small farmers, enabling them to utilize modern agricultural methods to boost productivity. He mentioned the need for major banks to address the requirements of small farmers.
In relation to the Apna Ghar Programme, the meeting was informed that loans totaling 426 billion rupees have been approved, with 76 billion rupees already disbursed. For the fiscal year 2026-27, a target of 700 billion rupees has been set to support the construction and delivery of 125,000 housing units.
The Prime Minister emphasized closing the gap between loan approvals and disbursements to ensure timely benefits for recipients. Additionally, efforts are underway to create a framework that facilitates developers' financing access.
For the SME sector, it was reported that loans amounting to 1,137 billion rupees have been provided to approximately 350,862 entrepreneurs. The government plans to elevate SME financing to 1,500 billion rupees and increase beneficiaries to 565,000 by June the following year.
Agricultural financing has reached 1,352 billion rupees, assisting over 3.4 million individuals. The government aims to boost this to 1,500 billion rupees and expand support to 4.5 million farmers by next June.
Banking representatives praised the Prime Minister's leadership in enhancing economic stability and outlook, expressing confidence in the government's policies and pledging continued cooperation to finance priority sectors.