LAHORE:Pakistan Carpet Manufacturers and Exporters Association (PCMEA) has welcomed the establishment of country’s first Export-Import EXIM Bank and expressed the hope that bank will help increase exports and get access to new international markets.
PCMEA Senior Vice Chairman Usman Ashraf, Carpet Training Institute (CTI) Chairperson Ijazur Rehman, Senior Central Leader Abdul Latif Malik, Senior Member Riaz Ahmed, Shahid Hasan Sheikh, Major (retd) Akhtar Nazir and Saeed Khan expressed these views in a joint media statement here Sunday.
They said that availability of credit insurance and guarantee services would solve a major problem faced by exporters.
They were of the view that extraordinary measures are inevitable to increase Pakistan’s exports and the establishment of a special bank related to export and import is an important development in this direction. “First of all, we have to compete with our regional competitors for which the patronage of the government is indispensable as the governments of the regional countries are giving concessions and relief to their exporters in various terms that is why they have consistent growth in their exports,” said Usman Ashraf.
PCMEA leaders said that government’s initiative of a special bank for export and import is commendable and a milestone for the country’s economy, trade and investment. This will increase the exports and give facilities to the exporters along with providing a favorable and level-playing field to the exporters, the said, asserting that they will also be able to access the global markets.
They said that it is gratifying that it will be possible to obtain insured exports from the bank and the risks of non-payment by commercial banks will also be reduced for the exporters.
They suggested that t EXIM Bank should issue a finance scheme for exporters without delay, which will reduce the burden on the State Bank. They also proposed that special counters should be established in the banks across the country and affiliated to EXIM Bank so that the exporters can get the facility in their nearest banks.
