Karachi: The State Bank of Pakistan's new initiative, "InvestPak," is being hailed as a significant step toward financial inclusion and economic development, according to Mian Zahid Hussain, the President of the Pakistan Businessmen and Intellectuals Forum. He emphasized that this program should be viewed as a comprehensive financial reform rather than merely a savings scheme, with the potential to greatly benefit national trade and industry.
According to Pakistan Businessmen and Intellectuals Forum, the scheme is expected to alleviate the current strain on commercial banks, which have been heavily financing government operations, leaving limited resources for the private sector. In the first eleven months of the fiscal year 2026, the government borrowed approximately Rs. 3.5 trillion from banks, while the private sector received only Rs. 986 billion. By redirecting funds from a broader investor base, including citizens and non-banking sectors, InvestPak aims to reduce the government's dependency on banks, thereby freeing up credit for SMEs, exporters, and other critical sectors.
Hussain noted that by May 2026, Pakistan's public debt had reached Rs. 81.95 trillion, with substantial portions in both domestic and external debt. The introduction of InvestPak aims to provide the public with direct access to government securities, thus broadening the investor base and reducing the commercial banks' monopoly. However, he cautioned that the scheme's success hinges on strict fiscal discipline and the promotion of productive investments.
He also highlighted the potential benefits for the corporate sector and Islamic banking investors. However, he stressed the need for a comprehensive awareness campaign to ensure widespread understanding of the scheme. Transparency, cybersecurity, and investor protection are crucial to building public trust in InvestPak. Hussain concluded by emphasizing that channeling public savings into productive sectors is essential for sustainable economic growth, rather than relying solely on government debt.