EDF and EXIM Bank initiative aims to widen export credit insurance access and support Pakistan’s shift toward an export-led economy.
Prime Minister Muhammad Shehbaz Sharif has welcomed a new initiative to provide export insurance coverage to small and medium-sized enterprises (SMEs), saying improved access to credit insurance can help Pakistan increase its exports.
Chairing a meeting on the Export Development Fund (EDF) on Saturday, the prime minister highlighted a Rs3 billion Risk Pool established by the EDF and Export-Import Bank of Pakistan (EXIM Bank). The facility is expected to broaden access to export credit insurance, particularly for smaller businesses.
PM Shehbaz Sharif described the initiative as an important step toward supporting SMEs and strengthening Pakistan’s export sector. He also praised the EDF team for introducing reforms designed to improve the fund’s contribution to economic growth and facilitate the business community.
The prime minister said the EDF had undergone restructuring, with its leadership now placed under private-sector professionals. He added that funds available with the organisation were being utilised to support businesses and promote export activity.
According to the briefing, the EDF currently has Rs24 billion available, and the entire amount has been allocated for investments aimed at facilitating the business community. The government believes these measures will help create a stronger foundation for an export-led economy.
The meeting was also informed that the EDF would not incur additional expenditure on infrastructure. Instead, its focus is shifting toward initiatives involving research, skills development and improvements in business competitiveness.
The prime minister said the government’s measures demonstrate its commitment to strengthening the national economy and increasing exports. He expressed the hope that such reforms would contribute to making Pakistan a more attractive global investment destination.
Officials further briefed the meeting about efforts to extend Pakistan’s preferential trade arrangements under the Generalised Scheme of Preferences Plus (GSP+) framework. Maintaining preferential access to European markets remains important for Pakistan’s exporters and could support future export growth.
The meeting was attended by Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Finance Minister Muhammad Aurangzeb, Federal Ministers Rana Tanveer Hussain, Jam Kamal Khan and Ahad Khan Cheema, Minister of State for Finance Bilal Azhar Kayani, Prime Minister’s Adviser Haroon Akhtar, EDF Board Chairman Umar Saeed and senior officials.
The reforms are expected to strengthen export insurance for SMEs while improving financing support and competitiveness for businesses seeking to expand into international markets.