Finance Minister Muhammad Aurangzeb has reaffirmed the government’s plan to fast-track three major social initiatives aimed at improving skills, empowering farmers, and enhancing energy efficiency for sustainable economic growth. Chairing three back-to-back meetings in Islamabad, he reviewed the progress and directed all stakeholders to ensure the projects launch on time, in line with the Prime Minister’s vision.
The initiatives are designed to create measurable social impact and drive national development, with implementation involving ministries, regulatory bodies, financial institutions, and technical partners. The first project, the Pakistan Skills Impact Bond, is the country’s first outcomes-based financing instrument, aimed at attracting both domestic and international private and philanthropic investment to support skill development.
The Finance Minister called the Skills Impact Bond a “trailblazer” that can meet immediate development needs while setting a precedent for attracting diverse investors. He highlighted it as an opportunity to showcase Pakistan’s ability to lead in innovative financing and attract global outcomes funders for future projects.
The second initiative, the National Subsistence Farmers Support Scheme, will provide digitally enabled, uncollateralized bank loans to smallholder farmers owning or cultivating up to 12.5 acres, including tenant farmers. He noted this will be the first time space technology will guide agricultural credit decisions on a national scale, calling it a breakthrough for rural financing in Pakistan.
The third project, the Prime Minister’s Fan Replacement Programme, aims to help households replace old ceiling fans with energy-efficient models at affordable financing rates. Developed by the National Energy Efficiency and Conservation Authority with partner banks, the programme will feature an online portal for a fully digital process, from registration to repayment.
Aurangzeb stressed the importance of linking these projects to the Sustainable Development Goals and seeking additional financing sources to boost their impact. He urged ministries, departments, and partners to accelerate their work and deliver all three initiatives within the next few weeks to maximize benefits for citizens.
