Prime Minister Shehbaz Sharif on Monday said economic growth and job creation through the promotion of small and medium enterprises (SMEs), housing and agriculture were the government’s top priorities.
Chairing a meeting on improving access to financing for priority sectors, he urged banks to increase lending to farmers, small businesses and housing scheme beneficiaries, warning that underperforming banks should not receive concessions from the State Bank of Pakistan (SBP) and the Ministry of Finance.
PM Shehbaz directed the finance minister to address financing challenges faced by SMEs, agriculture and housing stakeholders and develop a comprehensive action plan. He also instructed the SBP and Federal Board of Revenue (FBR) to jointly resolve tax-related issues of SMEs and exporters.
Shehbaz stressed that SMEs could accelerate economic growth, boost exports and create employment, while agricultural exports should be enhanced through value addition. He added that the Apna Ghar scheme would support industries linked to housing and construction.
During the meeting, officials informed participants that banks had approved Rs511 billion in loans under the Apna Ghar Programme as of October 23, with Rs91 billion disbursed to 15,584 applicants.
Housing finance stood at Rs455 billion, benefiting 187,317 borrowers, while agricultural lending reached Rs1,329 billion and SME financing totalled Rs1,148 billion.
The government aims to increase lending to both agriculture and SME sectors to Rs1,500 billion by the end of financial year 2027. Officials also briefed the meeting on measures to simplify loan procedures, introduce credit guarantees and expand digital financing facilities.
