ISLAMABAD: The federal government on Monday stepped up the implementation of the Prime Minister’s Access to Finance Plan 2026–2028 as Finance Minister Muhammad Aurangzeb chaired the first meeting of the Access to Finance Steering Committee, with a focus on accelerating affordable credit to priority sectors, including SMEs, agriculture, information technology, exports, renewable energy and housing, to support investment-led economic growth.
The meeting reviewed a comprehensive presentation covering the proposed governance structure, targeted outcomes linked to specific activity drivers, and implementation work streams aimed at expanding access to finance, strengthening financial inclusion, and enhancing affordable credit access for priority sectors.
The committee also received updates on the SME Finance Sub-Committee and reviewed progress under the Government’s flagship financing initiatives, including Zarkhez-e (Asaan Zarai Qarza), the Apna Ghar Scheme, and the Pakistan Accelerated Vehicle Electrification (PAVE) initiative, which is aimed at transitioning mobility towards affordable E-Bikes and E-Rickshaws.
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The committee deliberated on the proposed three-tier governance framework, including monthly updates to the Prime Minister, fortnightly strategic oversight through the Steering Committee headed by the Federal Minister for Finance and Revenue, and dedicated sectoral sub-committees on a weekly basis.
Members also discussed the proposed reporting framework, including Resolution Target Dates (RTDs), a structured escalation mechanism, and periodic reporting to strengthen accountability and monitor progress across all work streams.
The Chair also emphasised the importance of a progress monitoring dashboard.
The Finance Minister highlighted that the Steering Committee would serve as the central platform for strategic oversight, progress monitoring and policy coordination, facilitating timely decision-making, addressing cross-cutting challenges, and fostering close collaboration among regulators, financial institutions, and implementing agencies.
He further emphasised that the Committee should remain focused on delivering measurable outcomes while providing an effective mechanism for resolving policy and operational issues affecting access to finance.
The meeting also took stock of the Government’s flagship financing programmes. Updates were presented on Zarkhez-e (Asaan Zarai Qarza), with particular focus on application, approval and disbursement trends across participating banks. Participants also reviewed the Apna Ghar Scheme and the PAVE initiative, including application volumes, approvals, disbursements, and operational challenges requiring continued engagement with participating institutions.
Discussions further focused on the proposed national outcomes for SME finance, including increasing outstanding SME financing, expanding the share of SME credit within the banking sector, and significantly increasing the number of active SME borrowers through a results-oriented monitoring framework.
Members were also briefed on ongoing reform initiatives covering SME credit scoring, development of an Open Banking Framework and SME Digital Portal, integration with credit bureaus, and measures to strengthen financing across key value chains.
The Finance Minister underscored that the success of the Access to Finance Plan would depend on disciplined execution, clear accountability, and sustained institutional coordination.
He emphasised the importance of adhering to agreed timelines, strengthening inter-agency collaboration, and regularly monitoring performance through data-driven indicators. He noted that the Steering Committee would play a pivotal role in sustaining reform momentum, removing implementation bottlenecks, and advancing the Plan’s objectives.
The meeting was attended by Federal Secretary Finance, 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, the State Bank of Pakistan and SECP.
Copyright Business Recorder, 2026
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