ISLAMABAD, August 6: Prime Minister Shehbaz Sharif on Tuesday directed swift reforms to ease access to low-cost agricultural loans for small- and medium-scale farmers and announced fast-tracked measures to boost Small and Medium Enterprises (SMEs), terming both sectors vital to Pakistan’s economic future.
Chairing a high-level review meeting in the federal capital, the premier called simplified access to agri-credit a critical step to boost productivity and uphold the economic dignity of the rural population. He stressed that small farmers must be treated with respect and dignity, especially in matters relating to loan facilitation.
The PM instructed authorities to accelerate reforms at Zarai Taraqiati Bank Limited (ZTBL) and urged private banks to come forward with concessional lending schemes to support the agriculture sector. He announced that he will personally chair review meetings every three weeks to monitor the implementation of the reforms.
Officials briefed the prime minister on ongoing restructuring at ZTBL, the bank’s performance, and strategies to enhance agricultural lending. The meeting also reviewed the role of private financial institutions in supporting agri-credit disbursement.
Reaffirming his government’s commitment, the prime minister said institutional support, financial inclusion, and practical reforms would be central to empowering small-scale farmers and ensuring sustainable agricultural development.
SMEs as Growth Engine
Later, in a separate meeting of the Steering Committee of the Small and Medium Enterprises Development Authority (SMEDA), the PM described SMEs as the engine of inclusive growth, innovation, and employment. He stated, “Empowering SMEs means empowering Pakistan.”
Reiterating the government’s commitment to strengthening the SME sector, the prime minister said that the growth of SMEs remains a top government priority, with reforms and initiatives being implemented on a fast-track basis.
The meeting was briefed on major developments, including:
- Outsourcing the development of a credit scoring model for SMEs
- Strategic planning to enhance exports
- Development of a legal framework for SME sub-contracting
- Launch of a national survey with the Pakistan Bureau of Statistics to assess 20 key economic sectors
PM Shehbaz directed SMEDA and relevant institutions to accelerate pending initiatives, improve coordination among stakeholders, and prioritise support for women and micro entrepreneurs.
