Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb today chaired a high-level meeting on priority sector lending, attended by senior officials from the State Bank of Pakistan, the Pakistan Banks Association, and representatives from leading banks. The session focused on aligning the financial sector and its lending to priority sectors with the government’s agenda of driving an export-led economic revival and future growth. The Minister emphasized the critical role of banks in supporting and catalyzing export-oriented growth, stating that the government is fully committed to this strategic direction and actively facilitating foreign direct investment (FDI) that contributes to creating exportable surplus in key sectors. During the meeting, the Minister underlined the importance of recent investor engagement, referencing the successful Pakistan Minerals Summit which demonstrated the strong interest of domestic investors in high-value projects. He noted that such developments send a positive signal to international stakeholders and build investor confidence in Pakistan’s economic trajectory. A notable example shared was the commitment by Maersk Line, a major global container shipping company, to invest $2 billion in Pakistan’s maritime and port infrastructure. This, he pointed out, reflects the growing regional importance of trade corridors and the emerging realities of real market dynamics. The Minister reiterated the role of the banking and financial sector in unlocking and expanding such strategic opportunities, especially in logistics, trade facilitation, and industrial support. Highlighting the government’s commitment to realistic and inclusive policy formulation, the Minister informed the attendees that the budget process had been preponed this year. In a departure from past practice, he had personally visited various chambers of commerce months in advance to solicit proposals and feedback from stakeholders, ensuring that the upcoming federal budget is rooted in ground realities and geared toward sustainable growth. He noted that while the government has achieved macroeconomic stability, this must be viewed as a foundation rather than a final destination. The objective is not to pursue rapid and unsustainable expansion, but to ensure that the economy grows on a durable, investment-led, and export-oriented basis. He cautioned against the temptation of short-term gains and underscored the need to avoid the cyclical boom-and-bust patterns that have historically hindered economic progress. Earlier, Mr. Zafar Masud, Chairman of the Pakistan Banks' Association (PBA) gave a detailed presentation to the Minister and his team on implementation status of the support provided by the banks for the three key sectors of agriculture, small and medium enterprises (SMEs), and digital & technology and various new initiatives, including development of electronic warehouse receipt finance (EWR), SME environment and performance index (SEPI), financial data exchange (FDX), housing finance and various schemes for efficient use of energy and water in Pakistan. The Minister concluded with a call for coordinated efforts among banks, policymakers, and investors to sustain momentum and translate policy stability into real economic transformation. He stressed the importance of developing a robust mechanism for providing formal cash flow-based credit to smallholder farmers without collateral by leveraging fintech solutions such as remote sensing and embedded finance in line with the vision of the Prime Minister. The government remains determined to maintain its course, encouraging long-term investments and exports that underpin a resilient and thriving economy.
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