[3][4][5][6] Senate session on Friday, 30 September 2022, approved the bill to establish the Export Import Bank of Pakistan for the promotion of international trade.

The motion to pass the bill titled “the Export Import Bank of Pakistan Bill 2022” was moved by Dr. Aisha Ghous, Minister of State for Finance and Revenue.

The bill for EXIM Bank was earlier passed by National Assembly on June 9, 2022.

The Government of Pakistan made a policy decision to set up an EXIM Bank for Pakistan, with a mandate to provide innovative products to support the growth of exports and export led foreign direct investment by mitigating related risks.

There are over 60 such agencies in the world, providing similar products to their industry, and this is the first time, the Government of Pakistan is introducing such products in Pakistan, providing an enabling environment and level-playing field to Pakistan-based exporters.