ISLAMABAD, Oct 29 (APP):The government is working to address financing, regulatory and market-access challenges faced by Small and Medium-sized Enterprises (SMEs) to boost their export potential, reduce the cost of doing business and strengthen their competitiveness in international markets. Minister of State for Finance Bilal Azhar Kayani chaired a high-level consultative meeting at the Finance Division to discuss practical measures for enhancing SME exports, improving access to export finance and …
Govt moves to strengthen SME exports, improve access to export finance
ISLAMABAD, Oct 29 (APP):The government is working to address financing, regulatory and market-access challenges faced by Small and Medium-sized Enterprises (SMEs) to boost their export potential, reduce the cost of doing business and strengthen their competitiveness in international markets.
Minister of State for Finance Bilal Azhar Kayani chaired a high-level consultative meeting at the Finance Division to discuss practical measures for enhancing SME exports, improving access to export finance and reviewing the effectiveness of existing support schemes.
According to press release issued by finance ministry, the meeting deliberated on the key challenges faced by exporting SMEs, explored practical and actionable solutions and sought feedback from exporters on the recently announced SME support measures of the government.
Kayani highlighted government’s commitment to patronize exporting SMEs in improving their access to finance, foreign markets , new products, reduction in cost of doing business and promoting ease of doing business.
Regarding Export Finance Scheme (EFS) utilization by SMEs, he emphasized the need for participating banks to designate focal persons, clearly communicate eligibility criteria and establish timelines for processing applications.
He stressed on improving Export Facilitation Scheme`s effectiveness, the feasibility of expanding export credit insurance and risk-sharing mechanisms for smaller exporters.
The representatives from exporting SMEs from diverse sectors highlighted regulatory and taxation matters, compliance costs and certification requirements including emerging requirements for green certification and access to international markets.
Export costs and competitiveness were discussed, including freight availability, shipping cost, and access to productivity-enhancing machinery and technology, to improve SME productivity and export capacity.
The minister directed stakeholders to consult chambers and exporters, document key issues, and establish a tracking mechanism with clear responsibilities and timelines.
Relevant institutions will review financing, regulatory and market-access matters and assess options to improve digital access, collateral arrangements and export credit support.
The meeting reaffirmed the government’s commitment, in line with the Prime Minister’s directives, to improving access to export finance, strengthening coordination and facilitating SMEs in enhancing their competitiveness and expanding their presence in international markets.
The meeting was attended by Secretary Commerce, Jawad Paul; Senior Technical Advisor to the Prime Minister’s Office on Trade, Dr. Saeed; Special Secretary Commerce, Syed Hamid Ali; Member (Strategic Transformation) FBR, Dr. Hamid Ateeq Sarwar; senior officials of the Ministry of Commerce, provincial departments and representatives of leading SME exporters.
