Over 10m people benefit from fuel subsidy scheme: PM

Islamabad – Prime Minister Shehbaz Sharif said Friday that over ten million people have so far benefited from the fuel subsidy scheme.

Addressing a meeting, he said the scheme will continue to provide relief to motorcyclists, Qingqi rickshaw users and owners of vehicles with an engine capacity of up to 800cc.

The Prime Minister further said more than 21.7 million tokens have been issued, of which around 19.4 million have been redeemed to obtain fuel at subsidized rates.

He said the government has allocated 75 billion rupees to provide relief to the people.

Shehbaz Sharif appreciated the coordinated efforts of the federal and provincial governments and relevant institutions in the successful implementation of the scheme.

He also thanked the Chief Ministers, Chief Secretaries, Federal Ministries and all relevant departments for their support.

The PM announced an award for Minister for Information Technology Shaza Fatima Khawaja and shields for other officials and teams in recognition of their contributions to the scheme.

Meanwhile, PM Shehbaz Sharif appreciated the efforts of leading commercial banks in extending loans for housing, small and medium enterprises (SMEs) and the agricultural sector.

He was talking to a delegation of the presidents and chief executive officers of high performing banks regarding Prime Minister’s loan schemes for SMEs, Apna Ghar and Agriculture sector in Islamabad today.

The Prime Minister said SMEs are the backbone of Pakistan’s economy and their growth will create new employment opportunities and boost economic activity.

He said the government’s initiatives are aimed at providing common citizens, entrepreneurs and farmers with access to financial resources. He added that improved lending to SMEs, housing and agriculture will promote employment, investment, productivity and overall economic growth.

Emphasising the need to facilitate borrowers, Shehbaz Sharif directed the State Bank of Pakistan to simplify the loan approval and disbursement process so that more people can benefit from these schemes.

Highlighting the importance of agricultural financing, the Prime Minister said access to credit is essential for improving farmers’ economic well-being, increasing agricultural output and ensuring food security.

He directed the relevant authorities to prioritise small farmers, enabling them to adopt modern agricultural practices and enhance their productivity. He emphasised that expanding agricultural financing to small farmers is a pressing need, adding that a major bank should also serve the needs of small farmers.

Regarding the Prime Minister’s Apna Ghar Programme, the meeting was informed that loans worth four hundred and twenty-six billion rupees have so far been approved, while seventy-six billion rupees have been disbursed.

For the financial year 2026-27, a financing target of seven hundred billion rupees has been set to support the construction and provision of one hundred and twenty-five thousand housing units under the programme.

The PM stressed the need to bridge the gap between loan approvals and disbursements. He said the intended beneficiaries can only receive the real benefits when the approved funds reach them in a timely manner.

The meeting was also informed that consultations are underway to develop a framework to facilitate developers’ access to financing.

Regarding the SME sector, it was told that loans amounting to one thousand one hundred and thirty-seven billion rupees have been extended to around three hundred and fifty thousand eight hundred and sixty-two entrepreneurs. The government aims to increase the volume of SME financing to one thousand five hundred billion rupees and the number of beneficiaries to five hundred and sixty-five thousand by June next year.

The meeting was apprised that agricultural financing has reached one thousand three hundred and fifty-two billion rupees by the end of last month, benefiting more than three point four million people.

It was further updated that the government has set a target of increasing agricultural financing to one thousand five hundred billion rupees and expanding the number of beneficiaries to four point five million farmers by June next year.

Members of the banking delegation appreciated the Prime Minister’s leadership in strengthening economic stability and improving the country’s economic outlook.

They expressed confidence in the government’s economic policies and reaffirmed their commitment to further strengthening cooperation with the government to extend financing to priority sectors.

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