‘Stakeholders must have say in Exim Bank board’

FAISALABAD: Faisalabad Chamber of Commerce and Industry (FCCI) President Muhammad Saeed Sheikh has said that the establishment of Exim Bank of Pakistan Limited is a positive step that will provide support for exports and imports of the country.

However, he said in order to fully achieve its objectives, the real stakeholders must be included in board of directors of the bank. Sheikh was talking to Company Secretary Yasir Hayat Khan, who met him in his office on Tuesday.

The FCCI president briefed him about the economic importance of Faisalabad, saying out of the total $18 billion worth of exports from Pakistan, the share of Faisalabad stood around 33%.

Similarly, out of $11 billion worth of textile exports, Faisalabad is contributing $6 billion per annum, which is around 55% of total textile exports. Sheikh welcomed the establishment of Exim Bank and said its primary objective was to support Pakistan’s exports and imports.

He pointed out that many Punjab and Khyber-Pakhtunkhwa-based companies had set up their head offices in Karachi.

Published in The Express Tribune, May 31^st, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.