Dawood chairs 19th Finance Committee meeting of Board of Administrators  of EDF

ISLAMABAD   –  Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood Thursday chaired the 19th Finance Committee meeting of the Board of Administrators of Export Development Fund (EDF).

The Committee deliberated various proposals relating to export sectors of Pakistan like leather, cutlery, fisheries, textile, sports goods, garments etc. Proposals amounting to Rs. 950 million were approved. These related to upgradation and replacement of physical testing equipment at PTTF Laboratory Faisalabad, Testing Laboratory for Leather, Karachi Garment City Company, Hi-Scan X-Ray Inspection System at Sialkot International Airport, Building for SAARC Chamber of Commerce Industry, and compliance to IOTC’s Resolutions for Export of Tuna.

The Committee also approved budget of Rs8.9 billion for EDF for financial year 2021-22 based on EDS collection expected during current financial year. As per provisions of the EDF Act Ministry of Finance is mandated to propose to the parliament an appropriation equivalent to the receipts of the Export Development Surcharge collected during the preceding year. The meeting ended with vote of thanks.

Article source: https://nation.com.pk/19-Mar-2021/dawood-chairs-19th-finance-committee-meeting-of-board-of-administrators-of-edf