ISLAMABAD:
Prime Minister Shehbaz Sharif on Tuesday ordered immediate reforms to simplify and expand access to low-cost agricultural loans for small and medium-scale farmers, terming it vital for boosting productivity and ensuring economic dignity for the rural population.
While chairing a high-level review meeting in the federal capital, the premeir emphasised that small farmers must be treated with respect and given due facilitation, particularly when it comes to acquiring low-interest loans for their agricultural needs, a statement from the PM’s Office said.
“Small-scale farmers face immense challenges in securing low-cost loans,” the premier noted, adding that “providing them with easier access to affordable credit is among the government’s top priorities,” he said.
The prime minister instructed the concerned authorities to accelerate reforms within the Zarai Taraqiati Bank Limited (ZTBL), and to encourage private banks to step forward in offering concessional loans to the agricultural sector on easier terms.
He announced that he would chair review meetings every three weeks to monitor the implementation of loan facilitation initiatives and reforms at ZTBL.
The premier reiterated his government’s commitment to agricultural development and the empowerment of small farmers through institutional support, financial inclusion, and practical reforms.
Officials briefed the prime minister on the ongoing reform efforts at ZTBL, the bank’s performance, and proposed strategies to improve agricultural lending. The meeting also reviewed the role of private banks in supporting the agri-sector through credit disbursement.
SMEs
The prime minister underscored the significance of SMEs as the engine of inclusive growth, innovation, and employment and termed them as enablers of national strength saying, “empowering them means empowering Pakistan”.
He chaired a high-level meeting of the Steering Committee of the Small and Medium Enterprises Development Authority (SMEDA), underlining the government’s firm commitment to promote small and medium enterprises (SMEs) as a backbone of national economic growth, a Prime Minister’s Office news release said.
Addressing the participants of the meeting, the premier stressed that small and medium-sized businesses play a pivotal role in the development and prosperity of the country.
“The growth of SMEs is among the top priorities of the government, and we are implementing reforms and initiatives on a fast-track basis to support this critical sector,” he said.
The committee was briefed on recent reforms within SMEDA and key initiatives aimed at strengthening the SME ecosystem. It was revealed that, on the Prime Minister’s special directive, businesses with an annual turnover of up to Rs30 million have now been classified as micro enterprises and brought under SMEDA’s purview.
