Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, presided over the fourth meeting of the Access to Finance Steering Committee at the Finance Division, evaluating the advancement of initiatives designed to broaden affordable and inclusive finance across priority sectors such as SMEs, agriculture, IT, exports, renewable energy, and housing.
According to Press Information Department, the Finance Minister stressed the need for focused, outcome-oriented discussions within the Steering Committee, emphasizing implementation. Proposals are to first be vetted by relevant sub-committees before being presented to the Steering Committee for thorough examination.
The Committee assessed the status of SME financing, which had reached PKR 1.067 trillion by the end of August 2026, serving 323,987 borrowers. The plan is to increase SME financing to PKR 2 trillion by June 2028. The Minister highlighted the necessity of maintaining progress toward these goals and advocated for a bank-wise strategy to boost SME credit growth.
In agriculture finance, the committee noted that PKR 1.268 trillion had been achieved, covering over 3.3 million borrowers. The Zarkhez-e-Asaan Zarai Qarza program had facilitated loans to smallholder farmers, with 58,919 farmers registered and 16,964 loans approved. The Minister urged the expansion of outreach to ensure effective loan disbursements.
The Wazir-e-Azam Apna Ghar Programme – Ghar Ho To Apna was reviewed for housing finance progress, which recorded PKR 351.3 billion in approved financing by early September, marking a 12 percent growth since late August. The Minister called for accelerating the conversion of approvals into disbursements.
The Pakistan Accelerated Vehicle Electrification (PAVE) Programme showed 17,118 approved applications, involving PKR 2.581 billion, with 1,860 electric bikes delivered. The Minister emphasized the need for swift delivery of approved bikes to beneficiaries.
The CEO of SMEDA briefed on various initiatives, including the Financial Literacy Programme and SME Financing Help Desks. The Finance Minister underscored the importance of enhancing SME capacity and financial preparedness through partnerships and digital tools.
Senator Aurangzeb highlighted that improved access to finance is crucial for the government’s aim of private-sector-led economic growth. He stressed the need for practical support to enhance businesses’ engagement with financial institutions and directed sub-committees to continue advancing their workstreams, supporting the objectives of the Prime Minister’s Access to Finance Plan.
The meeting was attended by various government officials and representatives from the financial sector, including the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan.