The sixth meeting of the Access to Finance Steering Committee was held in Islamabad today with Finance Minister Muhammad Aurangzeb in the chair.

The meeting reviewed progress on expanding affordable and inclusive financing across priority sectors, including small and medium enterprises (SMEs), agriculture, exports, housing and the Prime Minister's flagship schemes, including Apna Ghar, Zarkhez-e-Pakistan and the Pakistan Accelerated Vehicle Electrification Scheme.

The committee was told that 20,176 loan applications amounting to 8.674 billion rupees have been approved under the Prime Minister's Zarkhez-e-Pakistan: Asaan Zarai Qarza Scheme, while 6,132 collateral-free loans worth approximately 2.34 billion rupees have been disbursed to smallholder farmers.

Under the Prime Minister's Apna Ghar Programme, 86,896 applications involving 511 billion rupees in financing have been approved, while 15,584 loans worth approximately 91 billion rupees have been disbursed.

The committee also reviewed implementation of the Pakistan Accelerated Vehicle Electrification Scheme, aimed at promoting affordable electric two- and three-wheeler mobility.

Under the scheme, 21,918 applications involving approximately 3.06 billion rupees in financing have been approved. A total of 5,506 loans worth 1.093 billion rupees have been disbursed, while 3,263 electric vehicles have been delivered to customers.

The Finance Minister expressed appreciation for the progress made so far in housing finance in general, and under the Prime Minister's Apna Ghar Scheme in particular.

However, he called upon the relevant stakeholders, including financial institutions and implementing agencies, to significantly step up efforts in SME and agriculture financing, stressing the need for greater urgency, stronger execution and faster disbursements.