PM Directs Banks to Improve Housing, SME, Farm Lending

Prime Minister Shehbaz Sharif has directed the relevant ministries, the State Bank of Pakistan and other stakeholders to improve access to loans for housing, small and medium-sized enterprises (SMEs) and agriculture, stressing that timely financing for these sectors is essential for economic growth. He praised banks actively supporting the three priority sectors and called on others to improve their lending so they can also benefit from government incentives. Stakeholder recommendations to make existing schemes more effective are due by the end of this month.

Apna Ghar Housing Scheme

• 75,198 loans worth Rs448 billion have been approved, and Rs76 billion has been disbursed to 14,000 people.

• This year’s target is Rs700 billion in loans for 125,000 housing units.

• Application processing time has been cut to 15 working days, and required documents reduced from 25 to five.

• The PM asked for a simpler application process, easier access to clear title deeds, and prompt recommendations from the committee on developer finance.

Agriculture and SME Lending

Storage and Investment

The PM ordered inactive Passco warehouses and silos to be operated through public-private partnerships to raise storage capacity. He praised Allied Bank’s model of grain storage warehouses with loans against stored produce, asked for it to be expanded with private-sector participation, and welcomed the bank’s proposed investment plan for an SME park.