It is pertinent to point out that the foreign exchange support will be solely for the importation of spares, plants and equipment needed to increase production capacities of these companies. Let me emphasize that our mission through this initiative is to ensure that priority is accorded to companies who display verifiable progress in our imports substitution and job creation drive.
Consequently, we would soon unveil a new FX bidding regime that is market driven and supports companies that accord utmost priority for our local production and job creation drive. Your Excellencies, distinguished ladies and gentlemen, cheques will also be presented to the seven (7) participating financial institutions whose customers have been selected as pioneer beneficiaries under the PPP's first cycle.