ISLAMABAD: In a recent meeting chaired by Minister of State for Finance Bilal Azhar Kayani, the government reaffirmed its commitment to enhancing access to export finance for small and medium enterprises (SMEs). The initiative aims to bolster SMEs’ competitiveness and enable their expansion into international markets.
According to Radio Pakistan, Minister Kayani underscored the government’s focus on supporting exporting SMEs by improving their access to finance, foreign markets, and new products. The plan also includes efforts to reduce the cost of doing business and promote ease of doing business in the sector.
During discussions on the Export Finance Scheme (EFS), the Minister emphasized the importance of participating banks appointing focal persons, clearly communicating eligibility criteria, and establishing timelines for processing applications. He stressed the need to enhance the effectiveness of the Export Facilitation Scheme and considered the feasibility of expanding export credit insurance and risk-sharing mechanisms for smaller exporters.