LAHORE (Special Correspondent) – President of the Lahore Chamber of Commerce and Industry (LCCI) Faheem Ur Rehman Saigol has pledged full cooperation and support to the EXIM Bank of Pakistan and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) to bolster national export promotion efforts and provide robust facilitation to the business community.

He made these remarks during a high-level meeting at the LCCI, where he hosted President of the EXIM Bank of Pakistan Shahbaz Hussain Syed and President of the ICIEC Dr. Khalid Khalif Ullah. The session was attended by LCCI Executive Committee members and several senior representatives from the trade sector.

Faheem Ur Rehman Saigol highlighted that the LCCI, as one of the country’s largest chambers representing over 48,000 member companies, serves as a vital advocate for diverse sectors, including large-scale industries, SMEs, exporters, and importers. Given that Pakistan’s annual import bill currently stands at approximately US$70 billion, he stressed the urgent national priority of enhancing and diversifying the export base.

Strategic Initiatives and Support

The LCCI President reiterated that the chamber is actively engaged in identifying new international markets and diversifying products. To facilitate this transition, he proposed the establishment of a dedicated help desk at LCCI, intended to provide exporters with expert guidance and necessary support. He noted that such measures would not only assist LCCI members but would also contribute significantly to the broader national objective of boosting Pakistan’s export revenues. He commended the EXIM Bank for its proactive engagement with the private sector and expressed optimism that this tripartite collaboration would open new avenues for growth.

Commitment from EXIM Bank

President of the EXIM Bank of Pakistan Shahbaz Hussain Syed stated that as the nation’s primary Export Credit Agency, the bank is committed to working closely with domestic exporters. He acknowledged that while the Pakistani institution is relatively new compared to its global counterparts, it has adopted a highly responsive, business-oriented approach. He emphasized that the bank is specifically targeting SMEs that possess the capability to export or contribute to foreign exchange reserves. Given the constraint of limited resources, he explained that the bank is utilizing a focused strategy to ensure support reaches those sectors where it can generate the greatest economic impact.

Key Agreements and Digital Transformation

Highlighting recent milestones, Syed mentioned three critical agreements signed in Islamabad in the presence of the Federal Minister for Finance. A landmark insurance agreement with the ICIEC stands out as a major development, which Dr. Khalid Khalif Ullah supported during his visit. Furthermore, a Rs3 billion fund has been established in collaboration with the Export Development Fund to address traditional financing hurdles faced by SMEs, such as the lack of collateral and complex documentation requirements. This initiative, designed to provide credit insurance, aims to protect exporters against risks while improving their ability to secure financing against insured export orders.

Additionally, Syed revealed that the EXIM Bank has partnered with AutoSoft to develop a digital platform, a move designed to digitize and expand the bank’s services throughout the coming year. The bank is also hosting CEO roundtables with leading financial institutions to discuss and solve challenges faced by exporters in coordination with international partners. Dr. Khalid Khalif Ullah expressed his gratitude for the LCCI’s facilitation and noted that sustained cooperation between the ICIEC, EXIM Bank, and chambers of commerce is essential for strengthening Pakistan’s overall export capacity.