Finance Minister Muhammad Aurangzeb on Monday chaired the inaugural meeting of the Access to Finance Steering Committee, established to provide strategic oversight for accelerated implementation of Prime Minister’s Access to Finance Plan 2026-2028, focusing on advancing measures to enhance affordable access to finance for priority sectors, including SMEs, agriculture, information technology, exports, renewable energy, and housing.
The meeting reviewed a comprehensive presentation covering the proposed governance structure, targeted outcomes linked to specific activity drivers, and implementation work streams aimed at expanding access to finance, strengthening financial inclusion, and enhancing affordable credit access for priority sectors. The committee also received updates on the SME Finance subcommittee and reviewed progress under the government’s flagship financing initiatives, including Zarkhez-e (Asaan Zarai Qarza), the Apna Ghar Scheme, and the Pakistan Accelerated Vehicle Electrification initiative, aimed at transitioning mobility towards affordable e-bikes and e-rickshaws.
The committee deliberated on the proposed three-tier governance framework, including monthly updates to the prime minister, fortnightly strategic oversight through the steering committee headed by the finance minister, and dedicated sectoral sub-committees on weekly basis. Members also discussed the proposed reporting framework, including Resolution Target Dates, a structured escalation mechanism, and periodic reporting to strengthen accountability and monitor progress across all workstreams. The chair also emphasized the importance of a progress monitoring dashboard.
Aurangzeb highlighted that the steering committee would serve as the central platform for strategic oversight, progress monitoring and policy coordination, facilitating timely decision-making, addressing cross-cutting challenges, and fostering close collaboration among regulators, financial institutions, and implementing agencies. He emphasized that the committee should remain focused on delivering measurable outcomes while providing an effective mechanism for resolving policy and operational issues affecting access to finance.
Discussions further focused on the proposed national outcomes for SME finance, including increasing outstanding SME financing, expanding the share of SME credit within the banking sector, and significantly increasing the number of active SME borrowers through a results-oriented monitoring framework. Members were also briefed on ongoing reform initiatives covering SME credit scoring, development of an Open Banking Framework and SME Digital Portal, integration with credit bureaus, and measures to strengthen financing across key value chains.
The finance minister underscored that the success of the Access to Finance Plan would depend on disciplined execution, clear accountability, and sustained institutional coordination. He emphasized the importance of adhering to agreed timelines, strengthening inter-agency collaboration, and regularly monitoring performance through data-driven indicators. He noted that the Steering Committee would play a pivotal role in sustaining reform momentum, removing implementation bottlenecks, and advancing the Plan’s objectives.