KARACHI: The Economic Coordination Committee (ECC) of Pakistan’s federal cabinet has approved the phasing out of long-term financing to the country’s Export-Import Bank of Pakistan, or Exim Bank, the Finance Division said on Friday.
The statement came after Finance Minister Muhammad Aurangzeb presided over a meeting of the ECC to review proposals and summaries with regard to various departments and ministries.
Among other agenda items, the forum discussed a summary presented by the Finance Division regarding the phasing out of the State Bank of Pakistan’s long-term financing facility (LTFF) to Exim Bank.
“The ECC decided that the SBP’s LTFF portfolio of PKR 330 billion would be phased out to the Exim Bank, with an allocation of PKR 1.001 billion through a Technical Supplementary Grant to meet the LTFF subsidy requirement for the new portfolio for FY 2025,” the Finance Division said.
EXIM Bank of Pakistan’s mandate is to catalyze the growth and diversification of the country’s exports and to support the implementation of import-substitution projects. It provides a level playing field to Pakistani exporters to compete with international exporters who already rely on their national Export Credit Agencies or EXIM Banks.
EXIM Bank of Pakistan meets its requirements by providing credit, insurance and lending products, designed to enhance the overall credit risk appetite in Pakistan. It also supports the implementation of manufacturing facilities and infrastructure projects in Pakistan to facilitate import substitution, saving the drain of valuable foreign exchange from Pakistan.
Pakistan’s Prime Minister Shehbaz Sharif has repeatedly said his government is prioritizing exports to ensure sustainable economic growth for the country’s fragile $350 billion economy. Sharif has recently said his government aims to increase Pakistan’s exports to $60 billion in five years.
The South Asian country is trying to stabilize its economy through sustainable reforms agreed with the International Monetary Fund (IMF) in exchange for a financial bailout program.
Pakistan approves phasing out of long-term financing to Exim Bank
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Pakistan approves phasing out of long-term financing to Exim Bank
- Export-Import Bank of Pakistan aims to catalyze growth and diversification of the country’s exports and to support the implementation of import-substitution projects
- It provides a level playing field to Pakistani exporters to compete with international exporters who already rely on their national Export Credit Agencies or EXIM Banks
Pakistan reports new polio case, taking 2025 tally to 31
- The virus infected a four-month-old girl in KP’s North Waziristan district
- Symptoms were detected in December last year, health authorities said
ISLAMABAD: Pakistan has reported a new case of wild poliovirus in its northwest, taking the country’s total number of polio cases in 2025 to 31, health authorities said on Tuesday, highlighting the persistence of the disease in high-risk areas despite vaccination campaigns.
The latest infection was confirmed in a four-month-old girl from North Waziristan district in Khyber Pakhtunkhwa province, according to the Regional Reference Laboratory for Polio Eradication at the National Institute of Health in Islamabad, which detected wild poliovirus type 1 (WPV1) in laboratory samples.
“The child had onset of symptoms in December, and subsequent samples collected from her were positive for WPV1, the lab reported this week,” said the statement. “Therefore, this is the 31st case of 2025.”
Last year, Pakistan reported 20 cases from Khyber Pakhtunkhwa, nine from Sindh and one each from Punjab and Gilgit-Baltistan, according to health authorities. Southern Khyber Pakhtunkhwa accounted for more than half of Pakistan’s WPV1 cases in 2025, with 17 of the country’s 31 cases reported from the region.
“Ongoing security challenges have limited consistent access for polio teams in parts of southern KP, including North Waziristan, resulting in persistent immunity gaps and leaving children vulnerable to this paralytic disease,” the statement said.
It added that it was critical to ensure that every child is reached with the polio vaccine in every house-to-house campaign and has received full doses of routine immunization.
Polio is a highly contagious viral disease that can cause permanent paralysis, mainly in children under five.
Pakistan and neighboring Afghanistan are the only two countries in the world where the disease remains endemic.
