Pakistan News

£1.5bn funding for UK businesses investing in Pakistan

£1.5bn funding for UK businesses investing in Pakistan

ISLAMABAD: The British government’s credit financing agency UK Export Finance (UKEF) has increased its financing limit to £1.5 billion for UK businesses looking to export and invest in Pakistan.

This announcement will boost trade partnerships between the two countries and unleash Pakistan’s growth potential. The UKEF helps secure large contracts by providing attractive financing terms to buyers and supporting working capital loans.

British High Commissioner to Pakistan Dr Christian Turner met with the Federal Minister of Commerce Abdul Razzak Dawood on Monday to discuss bilateral trade ties and business potential. Mr Dawood welcomed the UKEF’s announcement of an increase of £500 million in the credit limit for business investment in Pakistan, especially at a time when the country is looking to expand its trade potential to mitigate the impacts of Covid-19.

Dr Turner said the UK credit financing for Pakistan has tripled in the last two years and is key to achieving his ambition of doubling bilateral trade.

“It is a sign of our confidence in Pakistan and the strength of the unique relationship between the two countries. I encourage all Pakistani businesses to look for opportunities to partner with the UK on their journey towards economic prosperity,” he said.

Published in Dawn, September 15th, 2020

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