PM lauds Rs3bn export insurance initiative

The Export Development Fund and the Export-Import Bank of Pakistan have begun offering export insurance cover, and Prime Minister Shehbaz Sharif has welcomed the move, according to Dawn. He argued that the arrangement would help small firms raise their overseas shipments. Chairing a meeting on the EDF, he noted that a Rs3 billion risk pool would widen access to export credit insurance, particularly for SMEs.

He described the initiative as a very welcome step for smaller businesses that would strengthen the national economy. Following restructuring and reforms, the EDF's leadership has been handed to private-sector professionals, and all available funds are being used to support businesses. Mr Sharif said these measures show the government's commitment to lifting exports and positioning Pakistan as a global investment hub.

A briefing noted that the full Rs24 billion held by the fund has been allocated for investment, with no extra spending planned on infrastructure. The EDF is also pursuing research, skills development and competitiveness initiatives. Steps are also under way to extend Pakistan's GSP+ trade preference so that access to the European market is maintained.