ISLAMABAD: The government has allocated its Rs300 billion Export Finance Scheme exclusively to small and medium-sized enterprises (SMEs) in a move aimed at boosting the country’s exports and improving access to affordable financing.
According to the Ministry of Finance, eligible SMEs operating in the agriculture sector will also be able to benefit from the financing facility under the decision taken on the directives of the prime minister and the finance minister.
Under the revised policy, businesses seeking loans through the scheme must meet the prescribed criteria and definition of SMEs. The separate category previously available for new borrowers has also been abolished, meaning they will now be required to fulfil the same eligibility requirements as other SMEs.
The Ministry of Finance said the Export-Import Bank of Pakistan (EXIM Bank) had directed participating commercial banks to strictly implement the revised policy.
The government aims to strengthen small businesses through improved access to financing, enhance their productive capacity and create greater opportunities for expanding Pakistan’s exports.
