ISLAMABAD (Special Correspondent) – Minister of State for Finance Bilal Azhar Kayani stated on 10 November 2026 that expanding exports and improving access to finance for small and medium enterprises (SMEs) are essential for achieving sustainable economic growth. Addressing a forum titled “Economic Security: Pakistan’s Economic Bottlenecks – Diagnosis and Prescription,” the minister emphasized that addressing structural bottlenecks remains a national priority to ensure long-term economic growth.

Key Points

• Bilal Azhar Kayani identified export expansion and SME financial access as critical to national stability.
• Less than 1,000 out of 10,000 SMEs currently utilize the Export Facilitation Scheme (EFS).
• Access to finance has been identified by exporters as a greater challenge than energy costs.
• The Export Development Fund (EDF) board is now led by the private sector, featuring 89 exporter representatives.
• Combined federal and provincial development spending currently exceeds Rs4 trillion annually.

Expanding SME Financing and Export Reach

Minister Kayani noted that exports represent the only sustainable mechanism for foreign exchange earnings, calling for product diversification and market expansion. While referencing the Export Facilitation Scheme, he admitted the government faces outreach challenges, as the current uptake remains significantly below potential. Consequently, the administration is working to simplify regulatory procedures to ensure domestic industry participants can access available support without unnecessary bureaucratic delay.

Reflecting on consultations with 50 major SME exporters, the minister highlighted that capital accessibility is the primary barrier for established firms. He confirmed that the Prime Minister is actively engaging with commercial banks to improve credit distribution for small farmers, low-cost housing, and small businesses. This focus on financial inclusion is part of a broader shift in policy design, aimed at reducing the reliance on regulatory reforms drafted in isolation.

Private Sector and Governance Reform

The minister cited the recent budget as evidence of productive collaboration, noting the removal of super taxes for certain business brackets and exporters. These measures, he argued, were direct outcomes of working groups led by the private sector. Furthermore, structural changes to the Export Development Fund, including the move toward private-sector management, underscore the government’s intent to depoliticize economic administration.

Kayani concluded by emphasizing that long-term productivity is linked to education and the empowerment of local government bodies. He stated that governance quality requires reducing the discretionary powers of public officials while improving the technical capacity of the civil service to better serve citizens across the provinces.

Frequently Asked Questions

What is the primary concern for SME exporters in Pakistan?

Based on consultations with 50 established SME exporters, access to finance is considered their most significant challenge, surpassing concerns regarding energy costs.

How is the Export Development Fund currently managed?

The Export Development Fund board is now led by the private sector and includes 89 representatives from the export community.