Islamabad:
Prime Minister Shehbaz Sharif ordered immediate reforms on Tuesday on Tuesday to simplify and extend access to low -cost agricultural loans for small and medium farmers, which describes him as a strengthening of productivity and ensuring the economic dignity of the rural population.
While presiding over a high -level examination meeting in the federal capital, the Prémeir stressed that small farmers had to be treated with respect and to easily facilitate, in particular when it comes to acquiring low interest loans for their agricultural needs, said a statement from the Prime Minister’s office.
“Small farmers face immense challenges to obtain low-cost loans,” said the Prime Minister, adding that “offering them easier access to affordable credit is part of the government’s priorities,” he said.
The Prime Minister asked the authorities concerned to accelerate reforms within the Zarai Taraqiati Bank Limited (ZTBL), and to encourage private banks to advance in the offer of concessional loans to the agricultural sector with easier conditions.
He announced that he would chair examination meetings every three weeks to monitor the implementation of initiatives and reforms to facilitate loans in ZTBL.
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.
Officials informed the Prime Minister of Reform Efforts in progress in ZTBL, the performance of the bank and proposed strategies to improve agricultural loans. The meeting also examined the role of private banks in the support of the Agri-Sector by disbursement of credit.
SME
The Prime Minister stressed the importance of SMEs as the engine of inclusive growth, innovation and employment and qualified them as catalysts of national force by saying: “Emphasizing them means empowering Pakistan”.
He chaired a high -level meeting of the steering committee of the Small and Medium Enterprises Development Authority (SMEDA), stressing the firm commitment of the government to promote small and medium -sized enterprises (SMEs) as a backbone of national economic growth, said a press release from the Prime Minister’s office.
Addressing participants in the meeting, the Prime Minister stressed that small and medium -sized enterprises play a central role in the development and prosperity of the country.
“The growth of SMEs is among the main priorities of the government, and we implement reforms and initiatives on an accelerated basis to support this critical sector,” he said.
The Committee was informed of the recent reforms within SMEDA and key initiatives aimed at strengthening the SME ecosystem. It has been revealed that, on the Prime Minister’s special directive, companies with an annual turnover of up to 30 million rupees have now been classified as micro-enterprises and submitted to Smeda.
