Islamabad, June 29, 2025: The Economic Coordination Committee (ECC), chaired by Finance Minister Senator Muhammad Aurangzeb, has directed the State Bank of Pakistan (SBP) and the Finance Division to present a comprehensive plan for changes in home remittances incentive schemes by July 31, 2025.
The new roadmap will include a detailed impact analysis and a strategy to ensure a smooth transition.
The ECC also gave in-principal approval to launch a risk coverage scheme for small farmers and underserved regions. The initiative, set to roll out on August 14, 2025, aims to financially empower rural areas and boost formal lending.
As per the Finance Division, the scheme is projected to bring around 750,000 new agricultural borrowers into the formal banking system, with an estimated Rs300 billion in additional credit disbursement from FY2026 to FY2028. The government has allocated Rs37.5 billion to cover banks’ operational costs and risk management from FY2027 to FY2031.
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This move is part of the government’s wider effort to strengthen the economy through remittance reform and agricultural financing, ensuring inclusive growth and rural development.
