Islamabad: The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired the fifth meeting of the Access to Finance Steering Committee, reviewing advancements in expanding financial access across several priority sectors. The Committee evaluated progress on small and medium-sized enterprises (SME), agriculture, housing finance, and vehicle electrification, with an emphasis on achieving targeted outcomes and fostering sustainable financial ecosystems.

According to Press Information Department, the Finance Minister underscored the need for the Committee to focus on implementation, measurable outcomes, and systematic follow-up actions. Noteworthy progress in SME financing was highlighted, with lending increasing by PKR 23 billion and the number of borrowers rising significantly. The Minister aimed for further acceleration to align with the government’s medium-term objective of expanding SME financing to PKR 2 trillion by 2028.

The meeting also covered advances in agriculture finance, with substantial increases in outstanding finance and borrower numbers. The Committee emphasized strengthening the agricultural value chain, particularly in livestock and fisheries. Discussions included a framework for enhancing sector financing through private-sector involvement and risk-mitigation mechanisms.

In housing finance, the Committee noted a rise in outstanding finance and borrower numbers, discussing improvements for both homebuyers and developers. The Finance Minister emphasized creating a builder-financing framework to address supply-side constraints and support affordable housing.

The Committee reviewed the Pakistan Accelerated Vehicle Electrification (PAVE) Scheme, highlighting approved applications and disbursed loans. The Finance Minister stressed converting approved financing into delivery and resolving implementation bottlenecks. He emphasized that government-supported schemes should remain commercially viable and fill genuine market gaps while encouraging private-sector involvement.

The meeting concluded with a call for collective action among ministries, regulators, financial institutions, and industry participants to implement identified priorities within set timelines. The Minister reiterated the need for a comprehensive approach involving all stakeholders to achieve the government’s access to finance objectives, aiming to build a sustainable ecosystem reaching underserved segments.