Caretaker Minister for Finance, Revenue, and Economic Affairs, Dr Shamshad Akhtar, formally inaugurated Pakistan’s Export-Import Bank (EXIM) on Thursday.
The move is aimed at strengthening external trade, attracting investments, and fostering broader economic growth in the country.
During the inaugural ceremony, the finance minister expressed the importance of EXIM’s operationalization, highlighting its potential to reshape Pakistan’s trade finance landscape.
She cited the global impact of similar institutions, noting that they disbursed a substantial $2.5 trillion in trade finance last year, benefiting exports across more than 60 countries.
Dr Akhtar emphasized the diverse portfolio of products offered by EXIMs, particularly underscoring the significance of export credit loans that provide competitive-rate financing to exporters.
She stated that as EXIM Pakistan grows, it will play a crucial role in promoting trade finance through a well-structured institutional framework and effective policies.
The finance minister stressed the need for streamlining export policy frameworks to contribute to the sustainability of the balance of payments, addressing historical challenges related to low levels of export earnings.
Dr Akhtar outlined EXIM’s potential to enhance Pakistani exporters’ global competitiveness through services like lending, credit insurance, and guarantee services.
Notably, EXIM will introduce export insurance products in Pakistan to protect exporters against credit default risks, empowering them to participate in international infrastructure projects.
The minister underscored the importance of balancing export growth, risk diversification, and industry sustainability in EXIM’s operations. She highlighted its role in gradually managing export finance schemes in compliance with legal constraints.
Acknowledging the collaboration between EXIM and the State Bank of Pakistan (SBP), Dr Akhtar emphasized their partnership until the SBP smoothly phases out of export finance operations. She also stressed the significance of EXIM adhering to international practices while playing a crucial role in disbursing global trade finance.
Wow, this information is truly mind-blowing! I never knew about this before, and it’s fascinating to learn something new. Thanks for sharing such amazing insights!
This post is a goldmine of incredible knowledge! The details provided here are absolutely fascinating and incredibly well-presented. I’m definitely going to delve deeper into this topic. Thank you for sharing!
Absolutely phenomenal! I’m in awe of the depth and richness of the information shared in this post. It’s so refreshing to come across content that’s not only informative but also incredibly engaging. Kudos to you for delivering such fantastic information
Dr Akhtar, during the inaugural ceremony, highlighted the global impact of institutions like EXIM, citing that they disbursed an impressive $2.5 trillion in trade finance last year, benefiting exports across more than 60 countries. This underscores the crucial role such institutions play on the global economic stage.
impexp bank is going to provide nothing
as our all government institutions r lack professional management like psm ,wapda,railway,pia these r all gd but only lack visionary leadership nor we have strong political approach as they come fr thier pockets
We need to liberate than ALL WELL can b achieved, anyway impexp bank will b providing services to few BULLS ..thats it
Good efforts
Nice Information
Hopefully Better perform Good Luck.
I wish all they export import with successfully for Pakistan.
This is Good for broader economic growth in the country.
That’s amazing News Acknowledging the collaboration between EXIM and the State Bank of Pakistan.
Amazing Information. Hope all goods for Pakistan.
Really global impact of similar institutions Nice information.
The details provided here are absolutely fascinating and incredibly well-presented. Thank you for sharing!