EXIM Bank president highlights approach to export sector

Faheem Ur Rehman Saigol, president of the Lahore Chamber of Commerce and Industry, pledged full backing for EXIM Bank of Pakistan and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) during a Lahore meeting, according to Business Recorder. The talks, held with EXIM Bank president Shahbaz Hussain Syed and ICIEC president Dr. Khalid Khalif Ullah, centred on export promotion. Saigol said the chamber has over 48,000 member companies, and he stressed that with imports near USD 70 billion, exports must grow and diversify.

Saigol proposed a help desk at the chamber to guide exporters, a step he said would also serve the national goal of raising exports. Syed described EXIM Bank as a 100 percent government-owned body that works mainly with private firms, focusing on SMEs able to export or bring in foreign exchange. He also cited three agreements signed recently in Islamabad, including the first insurance deal between EXIM Bank and ICIEC.

A fund of around Rs3 billion, launched with the Export Development Fund, will offer credit insurance to exporters holding international orders. Shahbaz also mentioned a digital platform agreement with AutoSoft and a CEO roundtable with leading banks on exporter challenges. Dr. Khalid Khalif Ullah said continued cooperation between ICIEC, EXIM Bank and leading chambers could strengthen Pakistan's export capacity.