LAHORE: State Bank of Pakistan (SBP) Gov­ernor Jameel Ahmed chaired the first Steering Committee meeting on Wednesday to implement priority sector initiatives recommended by the Pakistan Banks’ Association (PBA).

The meeting focused on enhancing support from the banking industry in three key sectors: agriculture, small and medium enterprises (SMEs) and digital technology.

The meeting followed an earlier discussion chaired by Finance Minister Muhammad Aurangzeb last month, during which he had urged the banking sector to extend its full support to the government in operationalising its strategic economic priorities regarding these sectors.

The SBP governor said, “Our goal is to create a robust economic environment where businesses of all sizes can prosper. These measures are designed to stimulate growth, encourage innovation, and support sustainable development.

“We are committed to ensuring that our financial system provides the necessary support to drive economic recovery and long-term prosperity.”

The strategic measures are currently being implemented with the support of the PBA’s dedicated task force and in close consultation with the SBP and the finance ministry. Once implemented, these measures will result in a sustained increase in financing to the priority sectors.

Published in Dawn, June 6th, 2024