Prime Minister Shehbaz Sharif on Saturday welcomed the provision of export insurance coverage by the Export Development Fund (EDF) and Export-Import Bank of Pakistan (Exim Bank), particularly for small and medium-sized enterprises (SMEs), saying the initiative would help increase the country's exports. Chairing a meeting on the EDF, he said the Rs3 billion risk pool would expand access to export credit insurance, especially for SMEs, and facilitate the business community in increasing the volume of exports.

He termed the initiative a highly welcome step for promotion of SMEs in the country and appreciated the EDF team for undertaking reforms aimed at strengthening the national economy. Shehbaz said that following restructuring and reforms, the EDF had been entrusted to private-sector professionals. He added that all funds available with the EDF were being utilised to facilitate the business community.

"These measures reflect the government's commitment to promoting the national economy and increasing exports," he said, adding that such initiatives would help Pakistan emerge as a global hub for investment. He said the government's measures were aimed at fulfilling its commitment to promoting an export-led economy. Meanwhile, the prime minister extended heartiest congratulations to his Italian counterpart Giorgia Meloni on becoming the longest continuously serving prime minister in Italy's post-war history.

In a post on his 'X' handle, Shehbaz said Meloni, through her able leadership, has contributed significantly to Italy's progress and its growing stature on the world stage. He said that he looks forward to continuing to work with the Italian prime minister to further strengthen Pakistan-Italy relations across multiple domains. Shehbaz also extended his best wishes to Meloni for continued success in the years ahead.