LAHORE, Dec 21: Germany will extend DM100 million export insurance facility without any limit to the Pakistani businessmen in order to boost trade between the two countries.

This was stated by German ambassador Dr Christoph Brummer at a meeting with the executive committee of the Lahore Chamber of Commerce and Industry here on Friday. He said his government had offered a comprehensive package to bail out Pakistan from the present economic crisis.

He said Germany would explore new areas of economic aid and cooperation in the field of basic and secondary as well as technical education. A comprehensive project to set up a Pak-German University of Science and Technology in Lahore was on the cards.

The German envoy said his country was pushing a 3+2 development scheme for Pakistan whereby Germany would provide aid and financial support in the fields of renewable energy, basic health and family planning. In return, Germany would press for return to democracy, and promotion of good public administration and free market economy in Pakistan.

Dr Brummer said though Germany could not write off loans to Pakistan because of certain constraints, it would certainly extend long-term debt rescheduling enabling Islamabad to put in efforts for economic revival.

He urged the private sector from the two countries to work for small and medium projects in the fields of food processing, engineering to promote bilateral trade and boost volume.