EXIM Bank to emerge as single window operation for exporters: Dr. Shamshad

ISLAMABAD: Caretaker Minister for Finance, Revenue and Economic Affairs Dr. Shamshad Akhtar has termed the operationalization of EXIM Bank, a major milestone to augment the banking and trade finance landscape in the country.

Speaking at the Inaugural Ceremony of the Exim Bank in Islamabad on Thursday, she said EXIM has the potential to enhance Pakistani exporters’ competitiveness in international markets by lending credit insurance and guarantee services.

She said that the Export and Import Bank of Pakistan will emerge as a single window operation for the exporters with comprehensive range of products, incentives and services.

Meanwhile, the Economic Coordination Committee of the cabinet has approved a Technical Supplementary Grant worth 57 billion rupees for K-Electric to meet the operational requirements of power sector.

The approval was granted during a meeting of the ECC that was held in Islamabad with Finance Minister Dr. Shamshad Akhtar in the chair.

Another summary of Power Division for settlement of payables to Government Owned Power Plants at par with IPPs was approved and ECC directed to release 262 billion rupees to public sector power plants through technical supplementary grant.