Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired the fifth meeting of the Access to Finance Steering Committee at the Finance Division today to review progress on expanding access to finance across priority areas.
The Finance Minister emphasized that the Committee’s focus should increasingly remain on implementation, measurable outcomes and follow-up actions, with progress on decisions and recommendations of the sub-committees to be systematically tracked.
The Committee reviewed progress on SME financing, noting an improvement in lending, with outstanding SME finance increasing by PKR 23 billion from PKR 1.114 trillion in June 2026 to over PKR 1.137 trillion by end-September 2026, while the number of borrowers rose by over 25,000 to approximately 350,862. The Finance Minister called for further acceleration to remain aligned with the Government’s medium-term objective of expanding SME financing to PKR 2 trillion and increasing the number of borrowers to 775,000 by June 2028.
The Finance Minister stressed that achieving the SME financing target would require an ecosystem-wide approach, including commercial banks, microfinance institutions and other financial service providers. He directed that a focused mechanism be developed to bring microfinance institutions and other relevant entities on a more level playing field and explore appropriate government support and financing mechanisms to enable them to contribute more effectively to SME outreach.
The Committee also reviewed measures to strengthen SME bankability and capacity building. The Finance Minister directed that the ongoing work of SMEDA, the State Bank of Pakistan and participating financial institutions should be closely aligned and consolidated into a clear action tracker covering workstreams, action owners, timelines and interdependencies. He emphasized that capacity-building initiatives, financial literacy, documentation support and digital tools should translate into greater readiness of SMEs to access formal financing.
On agriculture finance, the Committee noted that outstanding agriculture finance increased by PKR 94.7 billion from PKR 1.26 trillion in June 2026 to over PKR 1.35 trillion by end-September 2026, with the number of borrowers rising by 196,303 to approximately 3.46 million. Under the Prime Minister’s Zarkhez-e-Asaan Zarai Qarza scheme, 5,563 uncollateralised loans amounting to PKR 2.1 billion have been disbursed to smallholder farmers. The Committee discussed the need to strengthen financing across the agricultural value chain, with particular emphasis on livestock, fisheries and other underserved segments.
The Finance Minister noted the significant potential of the livestock sector and emphasized the need to explore ways to strengthen financing for the sector through greater private-sector participation and appropriate risk-mitigation mechanisms. The Committee discussed a proposed framework for strengthening the sector, including the possible restructuring and repurposing of existing institutional arrangements. The Finance Minister directed the relevant authorities to work with the State Bank and other stakeholders on an appropriate operational and financing framework and bring concrete proposals before the Committee.
On housing finance, the Committee reviewed progress, noting that outstanding housing finance increased by PKR 103 billion from PKR 323 billion in June 2026 to PKR 426 billion by end-September 2026, with the number of borrowers rising to 231,550. Under the Wazir-e-Azam Apna Ghar Program, PKR 76 billion has been disbursed to 13,214 borrowers, while approved loans of PKR 350 billion are awaiting disbursement. The Committee discussed measures to strengthen financing not only for homebuyers but also for the supply side, including developers and builders. The Finance Minister in this regard emphasized the need for an effective builder-financing framework and called for coordinated work among the relevant authorities and financial institutions to develop practical financing products that can address supply-side constraints and support affordable housing.
The Committee also discussed the need to improve data availability and information-sharing to support responsible lending and better risk assessment. The Finance Minister emphasized that data should be used with appropriate safeguards and clear purpose limitations, while ensuring that financial institutions have access to the information required to assess borrowers and expand cash-flow-based lending.
The Committee reviewed progress under the Pakistan Accelerated Vehicle Electrification (PAVE) Scheme to transition two- and three-wheeler mobility through affordable financing terms, under which 17,262 applications amounting to PKR 2.54 billion have been approved, while 4,839 loans worth PKR 975 million had been disbursed by end-September and 2,725 electric vehicles delivered to customers. The Finance Minister directed that greater attention be given to converting approved financing into actual delivery and ensuring that implementation bottlenecks are addressed so that the benefits of the programme reach intended beneficiaries.
The Finance Minister also emphasized the importance of ensuring that government-supported financing schemes remain commercially sound and appropriately targeted. He stressed that public support should address genuine market gaps and create pathways for sustainable private-sector participation rather than result in prolonged dependence on subsidies.
Senator Muhammad Aurangzeb directed the relevant ministries, regulators, financial institutions and industry participants to work collectively on the identified priorities and ensure that agreed actions are implemented within defined timelines. He emphasized that the objective of the Access to Finance agenda was not merely to increase funding availability, but to build a broader and deeper ecosystem that sustains momentum and is capable of reaching SMEs, farmers, households and other underserved segments.
The Finance Minister reiterated that achieving the Government’s access to finance objectives would require an all-hands-on-deck approach, with commercial banks, microfinance institutions, non-bank financial institutions, regulators, development partners and the private sector working together to expand financing channels, strengthen borrower capacity and address market gaps.
The meeting was attended by the Federal Secretary, Ministry of National Food Security and Research; Chairman, Securities and Exchange Commission of Pakistan (SECP); Chairman, Pakistan Banks’ Association (PBA); Chief Executive Officer, Karandaaz Pakistan; Chief Executive Officer, Small and Medium Enterprises Development Authority; along with senior representatives of the Finance Division, the State Bank of Pakistan, SECP and relevant public offices.
