SBP Governor Chaired implementation meeting of PBA’s Priority Sectors Initiatives.

Pakistan : June, 2024, Karachi: The Governor State Bank of Pakistan (SBP), Jameel Ahmed
chaired the first Steering Committee Meeting for the implementation of priority
sectors initiatives recommended by the Pakistan Banks’ Association (PBA). The
meeting focused on enhancing support from the banking industry in three key
sectors of Agriculture, Small and Medium Enterprises (SMEs), and Digital &
Technology in Pakistan.
The meeting was in continuation of an earlier discussion chaired by the Federal
Minister for Finance & Revenue, Muhammad Aurangzeb last month, where he urged
the banking sector to extend its full support to the government in operationalizing its
strategic economic priorities pertaining to these sectors.
Governor SBP 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 forces and in close consultation with the SBP and the Ministry
of Finance. Once implemented these measures will result in sustained increase in
financing to the priority sectors.
Zafar Masud, Chairman – PBA stated, “These measures, initiated by the banking
sector as desired by the Finance Minister, come at a crucial time when businesses
and consumers alike are seeking stability and growth opportunities. By targeting
these essential sectors, the Central Bank and the Ministry of Finance are laying the
groundwork for a resilient and dynamic economy going into the future.”
The meeting was attended by Saleemullah, Deputy Governor – SBP, Syed Irfan Ali,
Executive Director (Financial Inclusion Group) – SBP, Sheharyar Sultan, Additional
Secretary – Ministry of Finance, and the PBA Steering Committee comprising of
Zafar Masud, Chairman – PBA, Irfan Siddiqui, President & CEO Meezan Bank, Ltd.,
Yousaf Hussain, Senior Vice Chairman – PBA, and Ahmed Bozai, Vice Chairman –
PBA. Other senior officials from the SBP and PBA were also present at the meeting.