PM pushes fast-track right-sizing reforms

ISLAMABAD:

ISLAMABAD

Prime Minister Shehbaz Sharif on Tuesday directed relevant authorities to accelerate the implementation of right-sizing measures to enhance the performance and effectiveness of the government.

He also directed the right-sizing committee to finalise its remaining recommendations within one month.

The prime minister chaired a high-level meeting to review progress on the federal government's right-sizing initiative aimed at improving efficiency of the Federal Government, PM Office Media Wing said in a press release.

The prime minister noted that, under the right-sizing initiative, the Utility Stores Corporation, Pakistan Public Works Department (Pak PWD) and the Pakistan Agricultural Storage and Services Corporation (PASSCO) had already been closed, resulting in savings for the national exchequer.

During the meeting, the committee briefed participants on the progress made under the reform initiative.

US delegation

Prime Minister Shehbaz Sharif on Tuesday met a US Congressional delegation, comprising Rep. Ryan Zinke and Rep. Michael Baumgartener, at the Prime Minister House and felicitated the Congressmen, the American people on the 250th anniversary of US Independence, and conveyed his warm regards and best wishes for President Donald Trump.

During the meeting, the Prime Minister welcomed both US Congressmen to Pakistan and said that their visit was a welcome step towards building stronger Pakistan-U.S. ties.

Welcoming the delegation, the prime minister reaffirmed Pakistan's commitment to strengthening its longstanding partnership with the US, emphasizing that economic cooperation remains a central pillar of bilateral ties.

He invited more US companies to invest in Pakistan in mutually beneficial ventures across a wide range of sectors.

SME loan

Prime Minister Shehbaz Sharif directed the relevant authorities to expedite SME loan access and approved a three-tier governance structure to double business financing by 2028.

The prime minister chaired a high-level review meeting here to expand access to finance for the business community, particularly small and medium enterprises (SMEs), and directed banks to speed up lending to the sector, a Prime Minister's Office news release said.

The officials briefing the meeting said SME financing by banks, currently standing at Rs 1.15 trillion as of June 2026, is targeted to be raised to Rs 2 trillion by June 2028. The number of SME borrowers is likewise set to increase from the current 324,000 to 775,000 over the same period. The share of SME financing in overall bank lending is targeted to rise from 9.9 percent to 13 percent by June 2028.