Prime Minister Shehbaz Sharif has directed authorities to take action against banks delaying loans to farmers, businesses and homebuyers.
He instructed the State Bank of Pakistan (SBP) and Finance Ministry to address delays. Banks failing to support government-backed lending programmes should receive no concessions, he said.
The prime minister issued these instructions while chairing a meeting on financing priority sectors in Islamabad. He also praised banks that actively support agriculture, housing and small businesses.
Shehbaz said these sectors could strengthen economic growth, increase exports and create employment opportunities. He stressed that banks must cooperate with them to support national development.
PM Seeks Action Against Delaying Banks
The prime minister directed the finance minister to resolve financing difficulties affecting small businesses, agriculture and housing. He also called for a comprehensive strategy to improve access to credit.
Furthermore, he asked the SBP and Federal Board of Revenue to resolve tax-related issues. These problems affect small businesses and exporters, limiting their access to financial resources.
He also called for a risk-coverage strategy to encourage banks to finance small businesses. Meanwhile, the central bank is working on improved regulations, shared lending risks and digital financial services.
The SBP has also introduced its SME Connect digital portal. Businesses can use the platform to apply for loans and track their applications.
Loan Approvals and Lending Targets
Officials informed the meeting that banks had approved Rs. 511 billion under the Apna Ghar scheme. These approvals covered 86,899 applications as of October 23.
However, only 15,584 applicants had received loans worth Rs91 billion. Overall housing finance reached Rs. 455 billion, benefiting 187,317 borrowers.
Agricultural loans stood at Rs. 1,329 billion, supporting approximately 3.5 million people. Meanwhile, SME financing reached Rs. 1,148 billion across 342,458 businesses.
The government aims to increase lending in both sectors to Rs. 1,500 billion each by fiscal year 2027. Authorities are also simplifying procedures, reducing paperwork and expanding digital access.
Shehbaz said agriculture remained central to Pakistan’s economy. He urged greater value addition in agricultural products to increase exports and strengthen related industries.
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