'EXIM Bank Pakistan will play major role in enhancing exports'

EXIM (Export and Import) Bank Pakistan will play a major role in enhancing exports by providing capital at cheep and affordable markup rate, said Engineer Muhammad Saeed Sheikh, President of Faisalabad Commerce and Industry (FCCI). He said that various countries had already created their EXIM Banks and are harvesting its benefits in the shape of their enhancing imports and exports.
FCCI chief said that EXIM Bank was especially imperative for Pakistan as its imports and exports deficit was increasing day by day. He hoped that this is a positive step and government should take special measures immediately to make it operational as soon as possible. He was appreciative of the fact that government has already decided to set up its headquarters in Lahore which will beneficial specially for the textile exporters of Faisalabad to apply and get loans from this bank to fulfill their foreign commitments. Continuing, he said that the textile exports are around $11 billion out of which Faisalabad alone is contributing $6 billion. He also demanded that business community of Faisalabad should also be give reasonable representation in other BODs of different public sector organizations including FESCO, PHA, Faisalabad Waste Management and Company etc.