Minister for Finance Muhammad Aurangzeb held a virtual meeting with Governor State Bank of Pakistan Jameel Ahmed, Chairman Pakistan Banks' Association Zafar Masud and their teams to discuss progress on financing for the priority sectors on Monday.                   

The Governor State Bank highlighted the progress in respect of initiatives proposed by Bankers' Association for financing to priority sectors.

He said the Bank has issued necessary notifications to facilitate implementation on some of the proposals of the Bankers' Association.            

He emphasized a more proactive consultation between stakeholders, particularly with telecos and power companies, on initiatives requiring data collection and building scorecard for agriculture and SME sectors for sustainable financing.      

The Chairman Bankers' Association apprised the Minister of the initiatives planned by the Association for building an inclusive and sustainable financial ecosystem.   

Speaking on the occasion, the Finance Minister appreciated the work done by both institutions for coming up with substantial initiatives.

He urged that initiatives with short term and immediate impact be given priority and their implementation timeframe be compressed by next month and rolling them out from early next year.

The Minister assured full support for arranging necessary consultations between the State Bank and Bankers' Association and the relevant ministries.