ISLAMABAD: Minister for Finance and Revenue Muhammad Aurangzeb convened a significant meeting with the Governor of the State Bank of Pakistan (SBP), Jameel Ahmed during his visit to Karachi.

The meeting was also attended by Chief Executive Officers (CEOs) and Presidents of various leading banks in Pakistan, said a press received here on Friday.

The primary agenda of the meeting was to discuss and strategize on enhancing financing and lending to priority sectors to stimulate economic growth and development in Pakistan.

During the meeting, Finance Minister provided a comprehensive briefing on the current economic situation of the country, highlighting the government’s ongoing efforts to promote economic stability, fiscal discipline, and sustainable growth.

He emphasized the critical role of the banking sector in supporting the government’s development agenda and urged the banks to increase financing and lending to priority sectors, namely agriculture, Small and Medium-sized Enterprises (SMEs), and Information Technology (IT).

Muhammad Aurangzeb urged the Pakistan Banks’ Association (PBA) to lead a task force comprising representatives from the banking sector, government and relevant stakeholders, with the primary objective to accelerate financing in the priority sectors and devise actionable strategies to overcome the existing challenges and bottlenecks hindering the growth of these vital sectors.