On Saturday, Prime Minister Shehbaz Sharif expressed his support for the export insurance coverage provided by the Export Development Fund (EDF) and the Export-Import Bank of Pakistan (EXIM Bank), particularly benefiting small and medium-sized enterprises (SMEs). He stated that this initiative would contribute to boosting the country’s exports.
While chairing a meeting focused on the Export Development Fund, he mentioned that the Rs3 billion Risk Pool would enhance access to export credit insurance, especially for SMEs, thereby assisting the business community in increasing export volumes.
He described the initiative as a significant advancement for the promotion of small and medium-sized enterprises in the country and commended the EDF team for implementing reforms aimed at bolstering the national economy.
PM Shehbaz Sharif noted that after restructuring and reforms, the leadership of the EDF had been assigned to professionals from the private sector. He emphasized that all funds at the EDF’s disposal were being utilized to support the business community.
“These actions demonstrate the Government of Pakistan’s dedication to fostering the national economy and boosting exports,” the PM remarked, adding that such initiatives would position Pakistan as a global investment hub. He reiterated that the government’s efforts were focused on realizing its commitment to an export-driven economy.
During the meeting, the prime minister received updates on the restructuring and reforms of the Export Development Fund. The briefing revealed that the entire Rs24 billion available with the EDF had been earmarked for investments to assist the business community.
Additionally, the meeting was informed that no extra spending would occur on infrastructure, while the EDF was pursuing initiatives related to research, skills development, and enhancing competitiveness to support economic growth and aid businesses. The briefing also highlighted ongoing efforts regarding the extension of Pakistan’s preferential trade arrangement under the GSP Plus status.