ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday expressed displeasure over delays in preparing the pilot project for the gemstones and jewellery sector and the lack of progress on measures to develop the sector.
He directed the relevant authorities to prepare and submit a time-bound action plan on a priority basis.
“Developing the gemstones and jewellery sector is a priority, and no delays will be tolerated,” the prime minister said. He called for developing a comprehensive ecosystem for value addition through gemstone mining, cutting and polishing.
“Pakistan incurs losses worth billions of dollars annually due to substandard mining practices and the smuggling of precious stones,” he said. He also called for developing a “Brand Pakistan” initiative for gemstones and jewellery, following the example of other countries in the region.
Directs banks to expedite housing loans and support SMEs, farmers
The prime minister directed authorities to formulate a plan to establish centres of excellence early to promote value addition.
The meeting was informed that 4.8 kanals had been transferred for a centre of excellence in Hussainabad, Skardu.
Housing loans
Presiding over a separate meeting, PM Shehbaz said that timely provision of loans to the Apna Ghar housing scheme, SMEs and agriculture was essential for boosting the national economy. He encouraged banks to play an active role in extending loans to these priority sectors to support national development and prosperity.
He said banks whose performance remained unsatisfactory were directed to improve lending to these sectors to qualify for government incentives. The prime minister directed the relevant ministries, secretaries and the State Bank of Pakistan to consult stakeholders from the SME, agriculture and housing finance sectors.
The prime minister also directed that inactive Pakistan Agricultural Storage & Services Corporation Ltd warehouses and silos be operated under a public-private partnership model to enable farmers to safely store their produce.
He appreciated Allied Bank’s model of establishing commodity storage warehouses and providing loans to farmers against their stored produce, directing the authorities to expand the initiative with private-sector participation.
PM Shehbaz also welcomed Allied Bank’s investment plan for a proposed SME park. Under the Apna Ghar scheme, the briefing said loans worth Rs448 billion had been approved for 75,198 applicants, while Rs76bn had been disbursed to 14,000 people.
Banks have been given a target to extend Rs700bn in loans to finance 125,000 housing units this year.
The total volume of agricultural loans stands at Rs1,352bn, benefiting 3.455 million people, officials said. Targets have been set to increase agricultural lending to Rs1,500bn and the number of beneficiaries to 4.5m by June 2027.
Published in Dawn, October 15th, 2026
