Pakistan’s Export-Import Bank formally launched

(Pakistan Today, Islamabad, 21 December 2023) 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. The Caretaker Minister for Finance stated that institutions like EXIM have a global impact, noting that they disbursed a substantial $2.5 trillion in trade finance last year, benefiting exports across more than 60 countries. 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.