ISLAMABAD: Prime Minister Shehbaz Sharif has directed the State Bank of Pakistan and the Ministry of Finance to take a firm stance against banks that delay loan disbursements to customers, emphasizing the need to improve access to financing across key economic sectors.
The directives were issued during a high-level review meeting chaired by the prime minister to assess measures aimed at facilitating credit availability for priority sectors of the economy.
Addressing the meeting, PM Shehbaz Sharif highlighted the important role of financial institutions in supporting private-sector growth. He stressed that banks must ensure efficient and timely access to financing to encourage business activity and strengthen the country’s economic development.
Housing Scheme Expected to Boost Construction Industry
The prime minister said the government’s Apna Ghar housing scheme would help stimulate economic activity in the housing and construction sectors.
He noted that the initiative could also benefit several industries associated with construction, creating opportunities for business expansion and economic growth.
Shehbaz Sharif reiterated that banks showing unnecessary delays in processing and providing loans should not receive preferential treatment or leniency from the relevant financial authorities.
Small Businesses Hold Significant Economic Potential
Highlighting the importance of small and medium-sized enterprises (SMEs), the prime minister said these businesses have considerable potential to contribute to Pakistan’s economic progress.
He emphasized that improved access to financial resources would help strengthen the private sector and enable businesses to expand their operations.
The prime minister also underlined the importance of an effective banking system in supporting entrepreneurship and encouraging investment.
Government Focuses on Agricultural Exports
Discussing the agricultural sector, PM Shehbaz Sharif described agriculture as the backbone of Pakistan’s economy.
He said the government was working to increase export earnings by promoting value addition in agricultural products.
According to the prime minister, enhancing the value of locally produced agricultural commodities could help improve Pakistan’s export performance and support broader economic development.
Youth Employment Remains a Top Government Priority
The prime minister reaffirmed that creating employment opportunities for young people remains one of the government’s foremost priorities.
He emphasized the need to strengthen economic sectors capable of generating jobs, particularly agriculture, construction and small and medium-sized businesses.
The meeting focused on improving access to credit for priority sectors and ensuring that financial institutions play a more effective role in supporting economic activity.
The prime minister’s directives reflect the government’s stated focus on expanding business opportunities, strengthening agricultural exports and improving employment prospects for Pakistan’s youth.