Islamabad, Nov 21: The Pakistan Banks’ Association (PBA), under the leadership of Chairman Zafar Masud, has announced a series of transformative initiatives to foster a sustainable and inclusive financial ecosystem in Pakistan.
These measures were detailed during a high-level meeting led by Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, with the Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, and other key stakeholders in attendance.
PBA Chairman highlighted strategic projects developed in close collaboration with the SBP to address pressing challenges in agriculture, SMEs, and technology.
The proposals include Electronic Warehouse Receipt Financing for agricultural liquidity, Corporate Farming Financing for modernized farming, and an SME Index to track sector growth.
In the digital domain, the PBA proposed a venture capital fund to drive fintech innovation, the revival of agricultural cooperatives for rural inclusion, and a financial data exchange for enhanced decision-making.
Key short-term priorities include Fan Financing for energy efficiency, Electric Vehicle Financing for sustainable transport, Solarization of Tube Wells for agriculture, and Markup Subsidies to encourage SME growth.
Governor SBP commended the proposals and pledged regulatory support, while the finance minister urged swift finalization of high-impact projects for rollout by early next year.
“This is the first time the banking industry has collectively undertaken such a significant initiative,” stated Zafar Masud. “Though the results will take time, this collaborative effort will reshape Pakistan’s financial landscape.”
The meeting concluded with a commitment from all stakeholders to ensure the timely implementation of these transformative initiatives.
