PM urges banks to provide low-cost loans to small farmers

Prime Minister Shehbaz Sharif on Tuesday directed immedi­ate reforms to simplify and expand access to low-cost ag­ricultural loans for small and medium-scale farmers, calling it a critical step for boosting agricultural productivity and ensuring economic dignity for the country's rural backbone.

The prime minister while chairing a high-level review meeting, emphasised that small farmers must be treated with respect and given due fa­cilitation, particularly when it comes to acquiring low-inter­est loans for their agricultural needs, a Prime Minister's Office news release said. 'Small-scale farmers face immense challenges in secur­ing low-cost loans,' said PM Shehbaz, adding, 'Providing them with easier access to affordable credit is among the government's top priorities.'

During the meeting, PM Shehbaz instructed the concerned authorities to accelerate reforms within the Za­rai Taraqiati Bank Limited (ZTBL), and to encourage private banks to step forward in offering concession­al loans to the agricultural sector on easier terms. The prime minis­ter announced that he will chair re­view meetings every three weeks to monitor the implementation of loan facilitation initiatives and reforms at ZTBL. PM Shehbaz reiterated his government's commitment to agri­cultural development and the em­powerment of small farmers through institutional support, financial inclu­sion, and practical reforms.

Officials briefed the Prime Minis­ter on 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 supporting the agri-sector through credit disbursement. Key federal cab­inet members and top officials pres­ent at the meeting included Feder­al Ministers Rana Tanveer Hussain and Ahsan Iqbal, PM's Advisors Mu­hammad Ali and Haroon Akhtar, Min­isters of State Bilal Azhar Kayani and Abdul Rehman Kanju, Governor State Bank Jameel Ahmad, MNA If­tikhar Nazir, and PM's Coordinator Musharraf Zaidi, among others.

Also, Prime Minister Shehbaz Shar­if says the government is working on priority basis to promote small and medium enterprises. He was chair­ing a meeting in Islamabad today, of the Steering Committee on Small and Medium Enterprises Development Authority. The Prime Minister said small and medium industries are sig­nificant for the country's develop­ment and economy. The meeting was briefed about reforms in SME­DA and steps taken in this regard. It was informed that companies with a turnover of up to 30 million rupees per year have been given the status of micro enterprises and included in the scope of SMEDA. A draft of the Women Entrepreneurship Policy is ready, which will soon be present­ed to the federal cabinet for approv­al. A special digital portal for SMEDA women will also be launched soon.

Meanwhile, PM Shehbaz Sharif has expressed satisfaction over the in­crease in the tax-to-GDP ratio result­ing from reforms in the Federal Board of Revenue. Chairing a weekly review meeting on proposed reforms in the FBR in Islamabad today (Tuesday), Shehbaz Sharif reaffirmed that he, along with the federal government, will fully support and safeguard the reform initiatives undertaken by the relevant authorities. He instructed to ensure the complete implementation of reforms by eliminating bureau­cratic hurdles and institutional barri­ers. He further emphasized the need for uniform and effective enforce­ment of revolutionary customs clear­ance reforms across the country.

The Prime Minister underscored that the use of technology in the customs clearance reform agenda should significantly reduce the time required for institutional procedures.

He urged the federal and provincial governments to work in close coor­dination and adopt a unified strate­gy to sustain the gains in tax collec­tion achieved through FBR reforms in the upcoming fiscal year. He noted that the effective implementation of previously imposed taxes will play a pivotal role in further enhancing rev­enue collection. He directed the de­velopment of a comprehensive strat­egy, formulated in consultation with the FBR, relevant federal institutions and provincial governments, to fur­ther improve the tax-to-GDP ratio. He also affirmed that no changes will be made to the approved timeline for FBR's tax collection and other reform targets for the upcoming fiscal year.

Besides, the Prime Minister called for strengthening the capacity of the FBR and the customs clearance system, in collaboration with the Ministry of In­formation and Broadcasting, to raise public awareness about the reform ini­tiatives. The meeting was briefed that the income tax return form has been updated and made available online in Urdu, following the Prime Minister's directive. It was said that making the form more user-friendly and accessi­ble in Urdu will benefit approximate­ly 84 percent of filers. It was informed that the FBR has successfully met its tax collection target for the first month of the current fiscal year and is expect­ed to achieve its targets in the coming months as well. The meeting was also briefed on the ongoing establishment of digital enforcement stations for cus­toms clearance across the country, which is being prioritized. Complete implementation of the Centralized As­sessment Unit and the faceless cus­toms system is expected to enhance the efficiency and transparency of the customs clearance process. It was fur­ther apprised that the implementation of reforms in the FBR and customs clearance is progressing in line with established targets, through adjust­ments in policy frameworks, strategic planning, and sector-specific actions.

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