LAHORE: Prime Minister Muhammad Shehbaz Sharif has announced a series of measures aimed at promoting an export-oriented economy in Pakistan. The initiatives, discussed during a meeting in Lahore, include the establishment of a three-billion-rupee risk pool to expand export credit insurance coverage for small and medium-sized enterprises (SMEs) and are expected to bolster the country’s export sector.
According to Radio Pakistan, the meeting focused on the efforts by the Export Development Fund and EXIM Bank of Pakistan to provide export insurance coverage, particularly benefiting SMEs. Prime Minister Sharif emphasized that all funds available to the Export Development Fund are directed towards facilitating the business community and fostering economic growth. He highlighted the significance of the new risk pool, which aims to increase export credit insurance coverage for SMEs, thereby enhancing the nation’s export capabilities.
In his remarks, Prime Minister Sharif acknowledged the role of the Export Development Fund in implementing reforms. He noted that the leadership of the Fund has been entrusted to private sector experts, following its recent restructuring. These steps, he stated, underscore the government’s commitment to transforming Pakistan into a global investment hub.
The meeting also included briefings on the allocation of twenty-four billion rupees from the Export Development Fund for investments to support the business community, with no additional expenditure on infrastructure. Attendees were informed about ongoing initiatives in research, skills development, and competitiveness enhancement within the Export Development Fund. Furthermore, discussions covered efforts to extend Pakistan’s Generalized Scheme of Preferences (GSP) Plus status to facilitate greater access to European markets.
The meeting was attended by key government officials, including Deputy Prime Minister Ishaq Dar, several federal ministers, and senior advisers, reflecting the administration’s focus on promoting economic growth through export expansion.