Rs 426 billion in loans approved under PM’s Apna Ghar Programme so far: PM told

ISLAMABAD, Oct 9 (APP): Prime Minister Muhammad Shehbaz Sharif was informed on Friday that loans worth Rs426 billion had so far been approved under the Prime Minister’s Apna Ghar Programme, of which Rs76 billion had been disbursed against a financing target of Rs 700 billion set under the programme to support the construction and provision of 125,000 housing units.

The prime minister, while chairing a meeting with a delegation of presidents and chief executive officers of various commercial banks, emphasised the need to reduce the gap between loan approvals and actual disbursements, stating that citizens would benefit from the programme only when the approved funds reached them in a timely manner.

He was told that consultations were underway on a framework to facilitate developers’ access to financing.

Regarding the SME sector, it was informed in the meeting that loans totalling Rs1,137 billion had been provided to approximately 350,862 business owners.

The meeting was further informed that target of the volume of SME lending was being increased to Rs1,500 billion and the number of beneficiaries to 565,000 by June 2027.

The meeting was further informed that the total volume of agricultural loans had reached Rs1,352 billion by the end of September 2026, benefiting 3,455,313 individuals.

The government aims to increase agricultural lending to Rs1,500 billion and expand the number of beneficiary farmers to 4.5 million by June 2027.

During the meeting, Prime Minister Shehbaz Sharif met the heads of the country’s ten leading commercial banks and thanked the banking sector for its support in helping citizens own homes, providing financial resources to small businesses and enhancing farmers’ productive capacity.

The prime minister, appreciating the efforts of banks demonstrating outstanding performance in providing financing for the Prime Minister’s Apna Ghar Programme, small and medium-sized enterprises (SMEs), and the agricultural sector, said that Small and medium-sized enterprises were the backbone of Pakistan’s economy, and their growth will create new employment opportunities and promote economic activity.

He said the government had launched these initiatives to provide ordinary citizens, business owners and farmers with access to financial resources.

Improved lending to SMEs, the housing sector and agriculture would promote employment, investment, productivity and overall economic growth, he added.

The prime minister directed the State Bank of Pakistan to further simplify the loan approval and disbursement process to remove obstacles to financing and enable more citizens to benefit from these schemes.

He said agricultural financing was essential for improving farmers’ economic well-being, increasing agricultural output and ensuring food security.

The prime minister stressed that access to financial resources for small farmers should be prioritised so they could adopt modern agricultural practices and enhance their productivity.

“Expanding access to small farmers through agricultural financing is an urgent need. A country’s largest bank is one that also serves its small farmers,” he said.

The delegation appreciated the prime minister’s leadership in achieving economic stability and improving the direction of the national economy.

The bank representatives also expressed confidence in the government’s economic policies and informed the prime minister that they were further strengthening their cooperation with the government to provide financing to priority sectors.

Federal Ministers Ahad Khan Cheema, Muhammad Aurangzeb, Riaz Hussain Pirzada and Attaullah Tarar, Minister of State Bilal Azhar Kiani, and State Bank of Pakistan Governor Jameel Ahmad attended the meeting.

The presidents and chief executive officers of the National Bank of Pakistan, United Bank Limited, Habib Bank Limited, Meezan Bank, Bank Alfalah, Standard Chartered Bank, the Bank of Punjab, BankIslami and the House Building Finance Corporation, along with other senior officials, were also present.