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MoC Approves Rs 950 Million for Export-Related Projects

Islamabad: To boost the competitiveness of the export value chain, the Ministry of Commerce has granted Rs 950 million for projects connected to exports.

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The choice was decided at the 19th finance committee meeting of the Export Development Fund (EDF) Board of Administrators, which was presided over by Abdul Razak Dawood, adviser to the prime minister on commerce.

The funds would be used to upgrade and replace physical testing equipment at the Karachi Garment City Company, a leather testing facility, and Pakistan Textile Testing Foundation in Faisalabad.

Hi-Scan X-Ray Inspection System at Sialkot International Airport, SAARC Chamber of Commerce and Industry building, and tuna export in accordance with IOTC resolutions.

The committee discussed a number of recommendations pertaining to export industries, such as leather, cutlery, fishery, textile, sporting products, and apparel. 950 million rupees worth of proposals were approved.

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Based on the EDS collection anticipated during the current fiscal year, the committee also authorized a budget of Rs 8.9 billion for the EDF for the financial year 2021–2022.

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