Islamabad: Prime Minister Shehbaz Sharif has emphasized the government’s commitment to strengthening the economy and creating employment opportunities for youth by focusing on the development of small and medium enterprises (SMEs), housing, and agriculture. Chairing a review meeting in Islamabad, he highlighted these sectors as top priorities for economic growth.
According to Radio Pakistan, the Prime Minister commended banks for their role in extending loans to these sectors and instructed the State Bank and the Finance Ministry to enforce compliance among banks that delay loan provisions. He underscored the importance of banks in private-sector development and called for mutual cooperation between banks and governmental institutions.
The Prime Minister pointed out the untapped potential of SMEs in boosting economic growth, exports, and employment. He described agriculture as the backbone of the national economy and stressed the government’s efforts to increase exports through value addition of agricultural products. The Apna Ghar Scheme, he noted, will support industries linked to housing and construction.
Directives were issued to the Finance Minister to address financing issues in the SME, agriculture, and housing sectors. Additionally, the State Bank and the Federal Board of Revenue were tasked with resolving tax-related issues for SMEs and exporters.
A comprehensive risk coverage strategy was recommended to improve loan accessibility for SMEs. The meeting highlighted the State Bank’s initiatives to promote lending, including the newly launched SME Connect digital portal.
The meeting revealed significant progress in loan approvals and disbursements under government programs, with the Apna Ghar Programme approving loans worth 511 billion rupees and disbursing 91 billion rupees. Agricultural financing has reached 1,329 billion rupees, and SME financing stands at 1,148 billion rupees, with targets set to increase both sectors’ financing to 1,500 billion rupees by fiscal year 2027. The government is also simplifying loan procedures to enhance access to financial resources.