SBP targets Rs1.5tr SME credit

The State Bank of Pakistan (SBP) has set an ambitious target to raise small and medium-sized enterprises (SMEs) financing to Rs1.5 trillion by June 2028, with plans to expand the number of SME borrowers to 750,000, Governor Jameel Ahmad announced on Wednesday. Addressing the Pakistan Banking Summit 2026 as the keynote speaker, Governor Ahmad described expanding financing to priority sectors like SMEs, agriculture, and affordable housing as one of the most important challenges and opportunities for the banking industry. Sustainable economic growth requires a banking system that supports productive investment, he said. "Agriculture, SMEs, and affordable housing are critical drivers of employment, exports, and economic resilience. Yet they continue to face significant financing gaps." According to the governor, outstanding SME financing has more than doubled between June 2021 and December 2...