Prime Minister Shehbaz Sharif has directed the government to launch a digital portal for small and medium sized enterprises (SMEs) by the end of November to help businesses access bank loans and track credit facilities in real time.
Chairing a review meeting on Wednesday, the prime minister also ordered authorities to remove obstacles to lending for small businesses, housing and agriculture and make the credit system more effective.
According to an official briefing, the portal will provide updated information on bank lending to businesses, including the status of letters of credit (LCs) and other banking facilities.
Shehbaz directed the Small and Medium Enterprises Development Authority (SMEDA) to strengthen the capacity of small businesses, promote modern technology, improve productivity and help them enter global value chains.
The meeting was told that SMEs have received Rs. 1,137 billion in loans so far, benefiting around 350,000 businesses. The government aims to increase SME lending to Rs. 1,500 billion and expand the number of borrowing businesses to 565,000 by June 2027.
In the housing sector, the government’s Apna Ghar Scheme has approved 71,690 loans worth Rs. 426 billion, while Rs. 76 billion has been disbursed to 13,214 borrowers. The government has set a target of providing Rs. 700 billion in housing finance for 125,000 residential units during the current year.
The prime minister praised the National Bank of Pakistan (NBP) for approving 76 percent of housing finance applications and directed its newly appointed president to improve the bank’s overall performance by hiring qualified professionals. He also called for action against employees who failed to meet performance requirements.
Shehbaz further directed the provinces to accelerate land record digitization, following Punjab’s model, saying it would help banks process housing loans more easily and improve transparency.
Agricultural lending currently stands at Rs. 1,352 billion, benefiting 3.455 million people. The government aims to raise agricultural credit to Rs. 1,500 billion and increase the number of beneficiaries to 4.5 million by June 2027.
Officials also briefed the meeting on revised SME regulations and plans to simplify housing finance procedures. Other measures under consideration include shared risk arrangements for lending, supply chain financing, verified data sharing and digital systems that would allow people seeking small loans to avoid repeated visits to bank branches.
The meeting also reviewed the lending performance of NBP and First Women Bank. Federal ministers Rana Tanveer Hussain, Muhammad Aurangzeb, Riaz Pirzada and Attaullah Tarar, Prime Minister’s Adviser Haroon Akhtar, State Bank Governor Jameel Ahmad and other senior officials attended.
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