PM Shehbaz Welcomes Rs3 Billion Export Insurance Plan to Support SMEs

• The EDF and EXIM Bank will provide export insurance through a Rs3 billion Risk Pool, with a particular focus on small and medium-sized enterprises.
• The entire Rs24 billion available with the Export Development Fund has been allocated for business-supporting investments.
• The government is also working to extend Pakistan’s GSP Plus status to maintain preferential access to European markets.

Prime Minister Muhammad Shehbaz Sharif on Saturday welcomed a Rs3 billion export insurance initiative introduced by the Export Development Fund and the Export-Import Bank of Pakistan, saying it would help small and medium-sized enterprises expand their exports.

Chairing a meeting on the Export Development Fund, the prime minister said the newly established Risk Pool would improve exporters’ access to credit insurance, particularly for SMEs, and enable the business community to increase export volumes.

He described the initiative as a significant step towards promoting small and medium-sized businesses and appreciated the EDF team for introducing reforms aimed at strengthening Pakistan’s economy.

PM Shehbaz said the fund had been restructured and its leadership entrusted to private-sector professionals. He added that all available EDF resources were being used to facilitate exporters and the wider business community.

The prime minister said these measures reflected the government’s commitment to increasing exports, promoting economic growth and establishing Pakistan as an attractive global investment destination.

He maintained that the initiatives formed part of the government’s broader strategy to develop an export-led economy and improve the competitiveness of Pakistani businesses in international markets.

During the meeting, officials briefed the prime minister on the restructuring and reforms undertaken at the EDF. The participants were informed that the fund’s entire available amount of Rs24 billion had been allocated for investment to support the business community.

Officials said the EDF would not incur any additional infrastructure expenditure. Instead, its resources would be directed towards research, skills development and programmes designed to enhance competitiveness, support economic growth and assist businesses.

The meeting was also informed that measures were underway to secure an extension of Pakistan’s preferential trade arrangement under the European Union’s GSP Plus scheme, helping the country maintain access to the European market.

Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, federal ministers Muhammad Aurangzeb, Rana Tanveer Hussain, Jam Kamal Khan and Ahad Khan Cheema attended the meeting.

Minister of State for Finance Bilal Azhar Kayani, Adviser to the Prime Minister Haroon Akhtar, EDF Board Chairman Umar Saeed and senior officials from relevant institutions were also present.