Minister of State for Finance, Mr. Bilal Azhar Kayani, chaired a high-level meeting at the Finance Division to discuss measures to enhance exports by Small and Medium-sized Enterprises (SMEs) and improve access to export finance.
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. The Minister of State for Finance 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 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 of State for Finance, Mr. Bilal Azhar Kayani 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 Mr. 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.
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