Islamabad:
Prime Minister Shehbaz Sharif on Tuesday ordered immediate reforms to simplify and expand access to low costs agricultural loans to small and medium -sized farmers, which meant the decisive factor in increasing productivity and ensuring financial dignity for rural areas.
While he was chairman of a high -level review meeting in the federal capital, Premeir emphasized that small farmers should be treated with respect and given proper relief, especially when it comes to acquiring low -interest loans for their agricultural needs, a statement from PM’s office said.
“Small -scale farmers face enormous challenges in securing cheap loans,” noted the prime minister, adding that “giving them easier access to affordable credit is among the government’s highest priorities,” he said.
The Prime Minister instructed the authorities concerned to accelerate reforms within Zarai Taraqiati Bank Limited (ZTBL) and to encourage private banks to advance to offer concession loans to the agricultural sector easier.
He announced that he would president’s review of meetings every three weeks to monitor the implementation of loan facilitation initiatives and reforms at ZTBL.
The premiere repeated its government’s obligation to agricultural development and empowerment of small farmers through institutional support, financial inclusion and practical reforms.
Officials informed the Prime Minister about the ongoing reform efforts at ZTBL, the bank’s performance and proposed strategies to improve agricultural lending. The meeting also reviewed the role of private banks in support of the agricultural sector through credit payment.
SMEs
The Prime Minister emphasized the importance of SMEs as the engine of inclusive growth, innovation and employment and called them as enabling national strength that says “strengthening them means to strengthen Pakistan”.
He was chairman of a high -level meeting of the Small and Medium -sized businesses Development Authority (Smeda), which emphasized the government’s fixed obligation to promote small and medium -sized companies (SMEs) as a backbone in national economic growth, a Prime Minister’s office news release said.
The prime minister, who talked about the participants at the meeting, emphasized that small and medium -sized businesses play a key role in the country’s development and prosperity.
“Growth of SMEs is among the government’s highest priorities, and we implement reforms and initiatives on a quick track to support this critical sector,” he said.
The committee was informed of the recent reforms in Smeda and key initiatives aimed at strengthening the SME ecosystem. It was revealed that companies with an annual turnover of up to the RS30 million have now been classified as micro -businesses and brought under Smeda’s Purview of up to RS30 million, have now been classified as micro -businesses and brought under Smeda’s Purview of up to RS30 million.
