Small Businesses to Get New Loan Portal by November

Prime Minister Shehbaz Sharif has ordered the government to launch a digital portal for small and medium-sized enterprises (SMEs) by the end of November to streamline access to bank loans and real-time credit tracking. During a review meeting, Sharif directed authorities to eliminate lending obstacles for SMEs, housing, and agriculture, aiming to enhance the effectiveness of the credit system.

The portal will offer updated data on bank lending to businesses, including letter of credit (LC) and other banking facilities' status.

SMEDA will bolster small businesses' capacity, promote modern technology, boost productivity, and aid in entering global value chains. To date, SMEs have received Rs. 1,137 billion in loans, benefiting around 350,000 businesses. The government aims to raise SME lending to Rs. 1,500 billion and expand borrowing businesses to 565,000 by June 2027.

In the housing sector, the Apna Ghar Scheme has approved 71,690 loans worth Rs. 426 billion, with Rs. 76 billion disbursed to 13,214 borrowers, aiming for Rs. 700 billion in housing finance for 125,000 residential units in the current year. The prime minister commended the NBP for approving 76% of housing finance applications and directed its newly appointed president to enhance overall bank performance through qualified hires and the removal of underperformers.

Sharif also emphasized accelerating land record digitization, inspired by Punjab's model, to facilitate housing loan processing and improve transparency. Agricultural credit stands at Rs. 1,352 billion, benefiting 3.455 million people, with plans to raise it to Rs. 1,500 billion and increase beneficiaries to 4.5 million by June 2027.

The meeting reviewed revised SME regulations, digital systems to streamline small loan applications, shared risk arrangements for lending, supply chain financing, and verified data sharing. Federal ministers and State Bank Governor Jameel Ahmad also attended the meeting.