PM lauds Rs3bn export insurance initiative
LAHORE: Prime Minister Shehbaz Sharif on Saturday welcomed the launch of export insurance coverage by the Export Development Fund and the Export-Import Bank of Pakistan, saying the facility would help SMEs expand the country’s exports. Chairing a meeting on the EDF, he said the Rs3 billion Risk Pool would expand access to export credit insurance, especially for SMEs, and help the business…
Lahore - Prime Minister Shehbaz Sharif expressed his appreciation for the Export Development Fund and the Export-Import Bank of Pakistan's introduction of export insurance coverage, noting that the Rs3 billion Risk Pool would facilitate the growth of Pakistan's exports, particularly for small and medium-sized enterprises (SMEs).
The prime minister emphasized that the initiative would bolster the national economy and position Pakistan as a global investment hub. The Export Development Fund's leadership has been entrusted to private-sector professionals following restructuring and reforms, and all available funds are being utilized to support the business community, according to the prime minister.
The government's commitment to an export-led economy is demonstrated through these measures, he added. During the meeting, the prime minister was informed about the EDF's restructuring and reforms, as well as the allocation of the entire Rs24bn funds for investment to assist the business community. No additional expenditure on infrastructure is being made, while the EDF is focusing on research, skills development, and enhancing competitiveness to spur economic growth and assist businesses.
Moreover, efforts are being made to extend Pakistan's Generalized System of Preferences Plus (GSP+) preferential trade arrangement to maintain access to the European market.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
