FAISALABAD, Sep 01 (APP):President EXIM Bank Shahbaz Hussain Syed said that the government is pursuing serious and meaningful efforts to boost Pakistan’s exports by expanding financing for Small & Medium Enterprises (SMEs) and addressing collateral and other hurdles that have traditionally restricted smaller exporters’ access to credit. Addressing a ceremony after inaugurating the EXIM Bank’s sub-office in Faisalabad, he said that establishment of the EXIM office would help provide easier …
Govt taking meaningful steps to boost exports, expand SME financing: EXIM Bank president
FAISALABAD, Sep 01 (APP):President EXIM Bank Shahbaz Hussain Syed said that the government is pursuing serious and meaningful efforts to boost Pakistan’s exports by expanding financing for Small & Medium Enterprises (SMEs) and addressing collateral and other hurdles that have traditionally restricted smaller exporters’ access to credit.
Addressing a ceremony after inaugurating the EXIM Bank’s sub-office in Faisalabad, he said that establishment of the EXIM office would help provide easier financing facilities to small exporters and strengthen their capacity to enter and compete in international markets.
He said that 80 percent of EXIM Bank’s financing had been earmarked for the SME sector which reflects the institution’s focus on supporting smaller businesses and exporters.
He said that the bank would not only provide financing from its own resources but it would also work to mobilize international financing to further expand the availability of funds for export-oriented businesses.
He said that objective EXIM Bank was to make financing more accessible to small exporters so that viable businesses could overcome financial constraints, enhance production and increase their share in international markets.
Earlier, President Faisalabad Chamber of Commerce & Industry (FCCI) Farooq Yousuf Sheikh addressed the ceremony and described the establishment of EXIM Bank sub-office in Faisalabad after Islamabad, Karachi and Lahore as a major development for business community of this city.
He appreciated the efforts of EXIM Bank President Shahbaz Hussain Syed and said that the issue of establishing Faisalabad office had been resolved within a short period of four months.
Vice President FCCI Engineer Asim Munir thanked the visiting dignitaries and participants for attending the ceremony.
Later, FCCI President Farooq Yousuf Sheikh along with former presidents of the chamber presented commemorative shields to the distinguished guests and a group photograph was taken.
Former FCCI presidents Muzammil Sultan, Atif Munir Sheikh, Chaudhry Muhammad Nawaz, Rana Muhammad Sikandar Azam Khan and Shabbir Hussain Chawla, Chairman Pakistan Hosiery Manufacturers & Exporters Association (PHMA) Ahmed Afzal Awan, All Pakistan Bedsheet and Upholstery Manufacturers Association (APBUMA) representatives Shahzad Ahmed and Mian Muhammad Tayyab were also present on the occasion in addition to senior officials of EXIM Bank and ICIEC.
