Government Decides to Take Immediate Steps to Provide Small Industries Access to Global Markets; Minister of State Bilal Azhar Kayani Assures Full Cooperation to Remove Financial and Administrative Hurdles
ISLAMABAD: To expand the country’s export footprint, the federal government has instructed the government agencies to take proactive measures urgently to promote access for small and medium-sized industries (SMEs) to international markets.
During a high level export credit facilitation meeting, Minister of State for Finance Bilal Azhar Kayani voiced his concern that the SMEs have not yet availed the available export credit facilities to the fullest extent. As a result, he instructed the State Bank of Pakistan (SBP) and Export-Import (Exim) Bank to increase their outreach and increase financial access to small-scale exporters.
The following were key highlights of the High Level Meeting on SME Exports and Growth:
Review of Export-Enhancement Measures: The meeting, presided over by Bilal Azhar Kayani, discussed the policies and strategies being adopted by the government to boost exports of SME. The Minister of State made it his strong point that more credit facilities should be made available to the small exporters and their urgent financial needs be addressed.
Awareness Campaigns and Modernization: A suggestion of organising awareness campaigns and modernisation was put forward during the session for informing small exporters about the incentives provided by the government. The conference also discussed the difficulties of business to attend the international trade exhibitions and to purchase modern machinery as well as expansion opportunities for investing in IT and software companies.
Agricultural Exports and Inter-Ministerial Coordination: Kayani stressed the importance of facilitating the agricultural and food products’ export, emphasizing the need for strong inter-ministerial coordination. In light of the feedback from exporters, the action of relevant ministries and institutions was directed to be taken jointly and synchronously.
Assurance of Support: Minister of State Bilal Azhar Kayani assured representatives that small industries were completely under the firm control of the government and small businesses were being driven out of financial and administrative hassles via full institutional cooperation.