UNISAME QUESTIONS SHYNESS OF EXIM BANK TOWARDS EXPORT CREDIT GUARANTEE INSURANCE

The Financial Daily 16/11/24
The Union of Small and Medium Enterprises (UNISAME) is disheartened by the Exim Bank’s low profile due to limited funding by the policy makers.
The Union is also dissatisfied by the limited, selected, halfhearted approach to Export Credit Guarantee Insurance of the Exim Bank.
President UNISAME Zulfikar Thaver said Pakistani exporters need a full fledged export credit guarantee insurance scheme to compete in global markets.
Thaver said to increase our exports to third world countries and making the commercial banks comfortable it is very important that the Exim Bank issues credit guarantees to bonafide exporters promptly on low premium.
It is very important that the premium rate remains affordable as in volume items of bulk shipments the profits are on the lower side. The shippers need affordable premium rates to compete with our neighbors.
He emphasized that exports of our geographical indication items and also non traditional goods can be enhanced to non traditional markets and third world countries if export credit guarantee insurance is provided.
Our competitors have increased their exports manifold by providing export credit guarantee at affordable low premium and unfortunately Pakistani policy makers are not yet ready and have not provided sufficient funds to EXIM Bank to enable it to popularize the much needed export credit guarantee insurance scheme in letter and spirit.
The UNISAME Council members (UCM) lamented that the government despite of knowing the requirements of the SME exporters is not taking measures to facilitate the exporters.
The UCM reiterated that the SMEs to enter and compete in global markets need export finance and export credit guarantee insurance cover and marketing support for exhibiting their products on international network.
The UCM have urged the policy makers to take prompt measures to benefit from seasonal markets in good time as the Christmas and new year buying is in full gear.

Posted in: Press Releases