It was discussed how ITFC can arrange financing for broader trade activities in Pakistan under commodity financing. The Minister for Economic Affairs appreciated ITFC who arranged financing of about US$7 billion for import oil & LNG from 2008 to 2021. It was highlighted that Pakistan’s POL financing requirement is much bigger, therefore, ITFC can get a bigger portion of financing from the existing US$1.5bn each year. Sonbol thanked the minister appreciated EAD’s interest in ITFC to meet the short-term trade financing needs. ITFC further assured that Pakistan is the top priority for the corporation to invest in trade financing & meet the country’s POL procurement requirements.

Source: Pakistan Today September 13, 2021 17:37 UTC