Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired the second meeting of the Access to Finance Steering Committee, established to provide strategic oversight for accelerated implementation of Prime Minister’s Access to Finance Plan 2026–2028.
The meeting reviewed a comprehensive presentation on progress under the Access to Finance Plan, including updates from the sub-committees on SME, agriculture and housing finance. The Committee discussed ongoing initiatives to improve access to finance across priority sectors, including measures to streamline cross-cutting legal and financial data-related matters and accelerate lending.
The Committee was briefed on the proposed framework for wholesale financing. It was informed that the framework would be shared with banks for their feedback and finalized following stakeholder input. The Committee discussed the need for appropriate controls and clarity in the proposed mechanism, particularly where government’s catalytic support may be involved, to ensure effective implementation.
The meeting also reviewed the dashboards and progress indicators covering key areas of SME, agriculture and housing finance. The Committee was briefed on the data being captured across different financing initiatives and the use of dashboards to monitor progress on a weekly basis. The Finance Minister emphasized the importance of regularly updated dashboards to facilitate effective monitoring of key access to finance initiatives.
The Committee also discussed progress in agriculture finance, including efforts to strengthen crop insurance coverage by enhancing Crop Loan Insurance Scheme (CLIS) towards area-yield insurance, which could improve farmers’ access to insurance payouts. It further reviewed agricultural lending and efforts to expand financing outreach to growers. The need for stronger coordination with banks, NBFIs and relevant stakeholders, as well as improved financing and payment mechanisms for growers, was emphasized.
Affordable Housing finance was also discussed in detail. The Committee noted the strong traction under the Wazir-e-Azam Apna Ghar Program– Ghar Ho To Apna, under which around Rs. 34.27 billion has been disbursed up to July, with over Rs. 220.68 billion in loans approved by banks and ready for disbursement. The Committee reviewed measures to further facilitate housing finance, including digitization of land and property records, verification of title documents and improved mechanisms for mortgage-based lending.
The Committee also discussed measures to strengthen the housing finance ecosystem, including engagement with developers, clearer property verification processes and mechanisms to facilitate financing against properly registered and verifiable titles. The importance of strengthening financing mechanisms and the enactment of structurally important legislation to spur sustainable financing was also highlighted.
The Committee reviewed progress under the Pakistan Accelerated Vehicle Electrification (PAVE) Programme, noting that over 1,200 electric bikes had been delivered to customers. The Committee discussed continued efforts to facilitate financing for EV mobility and support the Government’s broader objectives of transitioning towards electric vehicles in line with NEV Policy 2030, which will help reduce fuel imports, provide long-term cost savings to consumers, and improve the environment.
The Finance Minister underscored the importance of continued coordination among the Ministry of Finance, State Bank of Pakistan, SECP, Pakistan Banks’ Association and other relevant stakeholders to advance the initiatives under the Access to Finance Plan. He emphasized the role of the Steering Committee in addressing implementation issues and maintaining momentum towards the Plan’s objectives.
The meeting was attended by Federal Secretary Finance, Mr. Imdadullah Bosal; Governor, State Bank of Pakistan; Chairman, Securities and Exchange Commission of Pakistan (SECP); Chairman, Pakistan Banks’ Association (PBA); Chief Executive Officer, Karandaaz Pakistan; along with senior representatives of the Finance Division, State Bank of Pakistan and SECP.
