The banking industry has proposed financing solutions for energy-efficient households, electric vehicles (EVs), and small and medium enterprises (SMEs) contingent on improved data-sharing mechanisms with utilities such as gas, electricity, and telecom companies.
According to a news report, at a meeting chaired by Finance Minister Muhammad Aurangzeb, the Pakistan Banking Association (PBA) sought assistance from utility providers to facilitate data-sharing with credit bureaus for enhanced consumer scorecards. Governor State Bank of Pakistan (SBP) Jameel Ahmed and PBA Chairman Zafar Masud, along with industry representatives, also attended the meeting.
Masud outlined a roadmap for building a sustainable financial ecosystem, proposing initiatives including SME index development, corporate farming finance, electronic warehouse receipt financing, venture capital funds for fintech, and financial data exchange platforms. Short-term proposals included EV financing, solarisation of tube wells, and subsidized SME loans.
Governor SBP highlighted progress on implementing several PBA proposals, stating that regulatory changes to support these initiatives had already been issued. He urged closer collaboration with telecom and power sectors to ensure data availability for agriculture and SME credit score development.
The finance minister commended the PBA and SBP for their efforts and directed them to prioritize initiatives with immediate impact. He emphasized that short-term projects should be finalized by December and launched early next year.
Aurangzeb also assured support for data-sharing discussions with relevant ministries and regulators in the energy and telecom sectors. He committed to hosting a stakeholders’ meeting to address concerns and build consensus on the proposed measures.
