Rs1b approved for promotion of exports

ISLAMABAD: The board of administrators of the Export Development Fund has approved 15 projects worth Rs1.17 billion to promote exports.

The decision was taken at a meeting held on Friday at the Ministry of Commerce under the chairmanship of Makhdoom Amin Fahim, Federal Minister for Commerce. These projects include establishing training institutes in Islamabad, Peshawar, Multan, Faisalabad and Quetta and strengthening and upgrading the Saarc Chamber of Commerce and Industry headquarters at Islamabad which will cost Rs240.5 million.

The EDF also approved Rs33.8 million for the improvement of leather products and the Development Institute Sialkot while Rs10.8 million were granted for the Footwear Training Institute in Charsadda and the establishment of the Southern Punjab Women Chamber of Commerce and Industry building at Multan. Besides, Rs30 million were allotted for the establishment of the Business and Trade Centre at Sialkot.

The participants of the meeting included Senator Ilyas Bilour, Secretary Commerce Zafar Mahmood, chief executive Trade Development Authority of Pakistan (TDAP), officers of the commerce ministry, representatives of the Ministry of Textile Industry, the State Bank of Pakistan, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and trade associations.

Published in the Express Tribune, May 22nd, 2010.