KARACHI: Sindh Chief Minister Syed Murad Ali Shah has called for a stronger focus on financial services designed around the needs of rural communities, farmers, women and small businesses.
Speaking at the closing ceremony of the 10th Annual Microfinance Conference in Karachi, Murad said financial inclusion should go beyond simply opening bank accounts. He stressed that financial products must be practical, affordable and suited to the risks faced by rural households.
CM Murad Stresses Client-Centered Financial Inclusion
Murad Ali Shah said governments, financial institutions, regulators, development partners and communities need to work together to tackle poverty.
He argued that the key question is no longer how many accounts are opened, but whether financial products actually meet the needs of people, particularly farmers, rural households and small enterprises.
Focus on Women, Farmers and Small Businesses
The two-day conference discussed women’s financial inclusion, agricultural financing, climate resilience, digital innovation, artificial intelligence and ways to expand financial services for underserved businesses and rural communities.
The chief minister highlighted Sindh’s People’s Poverty Reduction Program, which has expanded from two districts and now covers a significant portion of rural Sindh. The programme combines community investment funds, skills development, income-generating support and housing assistance.
Finance Must Be Combined With Skills and Enterprise Support
Murad said access to credit alone is not enough to lift families out of poverty. He advocated an integrated approach combining financing with skills training, enterprise development, housing and community organisation.
He also highlighted the EU-supported PAIDAR Programme, implemented by UNIDO, which aims to create opportunities for enterprise development, rural services and access to finance in Sindh.
Climate Resilience and Social Protection
The Sindh chief minister said poverty reduction must also be linked with climate adaptation because the province remains vulnerable to floods and other climate-related disasters.
He pointed to the Sindh Peoples’ Housing for Flood Affectees Programme, which aims to build 2.1 million climate-resilient homes. He said more than half a million houses have been completed, while over 1.25 million remain under construction.
Murad also mentioned the Sindh Coastal Resilience Project, a $311 million initiative intended to benefit nearly 196,000 households in Thatta, Sujawal and Badin through climate-smart livelihoods, infrastructure and skills development.
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New Initiative to Develop Rural Financial Products
A key development at the conference was the launch of PAIDAR Innovation Labs, which will involve rural communities and businesses in designing financial products.
Murad welcomed the initiative, saying financial solutions can become more effective when the people who use them are directly involved in their development.
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