Ministry of Commerce Approves Rs. 950 Million for Export Projects
The Board of Administrators of the Export Development Fund had its 19th Finance Committee meeting, which was presided over by Mr. Abdul Razak Dawood, Assistant to the Prime Minister on Trade and Investment (EDF).
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The Committee discussed a number of suggestions pertaining to Pakistani export industries, including leather, cutlery, fishery, textile, sports items, clothing, etc. The 950 million rupees worth of proposals were approved.
Based on the EDS collection anticipated during the current fiscal year, the Committee also approved a budget of Rs. 8.9 billion for the EDF for the financial year 2021–2022.
The Minister of Finance is required to submit to the House an appropriation equal to the receipts of the Export Development Surcharge collected during the previous year under the terms of the EDF Act.
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The Presidents of the Federal, Sialkot, and Khyber Chambers of Commerce & Industry, representatives of the Pakistan Business Council, and important associations from the textile, surgical, fruits & vegetables, software, fisheries, and poultry sectors are among those who make up the Finance Committee of the EDF Board.
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