Islamabad:
Prime Minister Shehbaz Sharif on Tuesday ordered immediate reforms to simplify and expand access to low -cost agricultural loans for small and medium farmers, which makes it vital to boost productivity and guarantee economic dignity for the rural population.
While they preside over a high -level review meeting in the Federal Capital, the premiere emphasized that small farmers must be treated with respect and are given due facilitation, particularly when it comes to acquiring low -interest loans for their agricultural needs, said a statement from the office of the Prime Minister.
“Small -scale farmers face immense challenges in obtaining low -cost loans,” said Prime Minister, added that “providing easier access to affordable credit is one of the main priorities of the government,” he said.
The prime minister instructed the interested authorities to accelerate the reforms within the Zarai Taraqiati Bank Limited (ZTBL), and encourage private banks to take a step forward in offering concessional loans to the agricultural sector in easier terms.
He announced that he would preside over the review meetings every three weeks to monitor the implementation of initiatives and facilitation reforms of ZTBL loans.
The prime minister reiterated his government’s commitment to agricultural development and the empowerment of small farmers through institutional support, financial inclusion and practical reforms.
The authorities informed the Prime Minister about the current reform efforts in ZTBL, the bank’s performance and the strategies proposed to improve agricultural loans. The meeting also reviewed the role of private banks to support the agricultural sector through credit disbursement.
SMEs
The prime minister stressed the importance of SMEs as the engine of inclusive growth, innovation and employment and described them as facilitators of the National Fortress that said: “Empowering them means empowering Pakistan.”
He presided over a high -level meeting of the Steering Committee of the Development Authority of Small and Medium -sized companies (Smeda), underlining the firm commitment of the Government to promote small and medium enterprises (SME) as a backbone of national economic growth, according to a press release from the Prime Minister’s office.
When addressing the participants of the meeting, the prime minister emphasized that small and medium -sized companies play a fundamental role in the development and prosperity of the country.
“The growth of SME is among the main priorities of the government, and we are implementing reforms and initiatives on a quick basis to support this critical sector,” he said.
The Committee was informed about recent reforms within Smeda and key initiatives aimed at strengthening the SME ecosystem. It was revealed that, in the special directive of the Prime Minister, companies with an annual turnover of up to RS30 million have now classified as micro enterprises and taken under the scope of Smeda.
