Efforts under way to increase SME financing: Ihsaan

Business Recorder · 16/10/2026، 11:52:07 PM

ISLAMABAD: Prime Minister’s Coordinator on Commerce and Industries Rana Ihsaan Afzal Khan has said that efforts were underway to increase Small and Medium Enterprises (SME) financing from Rs1 trillion to Rs2 trillion, while exporters were being supported through concessional financing arrangements involving EXIM Bank and commercial banks. Addressing the closing ceremony of the 39th Annual General Meeting and International Conference of the Pakistan Society of Development Economists (PSDE), organized at the Pakistan Institute of Development Economics (PIDE) here on Friday, he said Pakistan was moving towards an export-oriented economy to overcome recurring economic challenges and ensure sustainable growth. Highlighting key initiatives, he said the National Tariff Policy 2025–30 aimed to rationalise duties across approximately 7,500 tariff lines, gradually eliminate regulatory and additional customs duties, and reduce the maximum customs duty to 15 percent to improve industrial competitiveness. He said the government was reviewing approximately 500 regulatory requirements and removing unnecessary certification and inspection procedures under the Export Policy Order to facilitate businesses. Rana Ihsaan said the Prime Minister had approved a Trade Facilitation Board to improve coordination among government agencies, streamline export logistics and reduce port-related costs. He named ICT, artificial intelligence, agriculture, minerals and the blue economy as the key drivers of export diversification. Researchers stressed the need for fast-tracking structural reforms, cut trade-related costs and broaden its export base to achieve sustainable, export-led growth. The conference put forward six reform priorities: sustaining URAAN Pakistan beyond political cycles; tariff reform and strategic free trade agreements; rationalising logistics oversight and strengthening the Pakistan Single Window and Corridor Export Coordination Cells; safeguarding investors through adequate fore