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October 12, 2018

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Govt approves revival of EDB

Govt approves revival of EDB

ISLAMABAD: While granting approval for revival of Engineering Development Board (EDB) for undertaking complete restructuring by the federal cabinet, Adviser to Prime Minister on Commerce and Industries Abdul Razak Dawood has said that domestic shortages would be managed but export markets would be protected for betterment of the country.

“The domestic shortages may surface but there will be no issue as will manage it and our main focus will be on boosting exports, exports and only exports,” Dawood said in a hurriedly called press conference here at the Ministry of Industries on Wednesday evening. He said that the government would bring in new board for the EDB.

When asked whether it was policy of PTI government to promote exports at the cost of domestic shortages, Razak Dawood expressed his complaints about media and added that he had not put things in such prospective but contended only as saying that it was just an expression to emphasise that Pakistan would have to focus on boosting exports.

To another query regarding shrinking base of manufacturing sector, he said that the deindustrialisation occurred in the country

Regarding the EDB, he said that it was revived by the cabinet under chairmanship of PM Imran Khan and now its Board would be restructured by bringing professionals in it. “There was problem of incompetence in the EDB,” he added.

He said that the EDB had performed well when it was established in 1995-96 but later on it lost its steam. He said that he would oppose rent seeking and would not tolerate it. So EDB would be revived to run it on professional basis. The indigenization program was launched and run successfully during initial years of EDB but then the entity could not perform well in last so many years.

The engineering industry, he said, could play major role for boosting exports and the government decided focusing on industries such motorcycle, refrigerators, air conditioners and auto parts as it were known as white goods. “New manufacturers are coming into car industry as it will help meeting domestic demands and then focusing on export markets,” he added.

He said that the EDB had come into being with help of private sector but later on it was taken over by the government. To other queries regarding K-Electric, Pakistan Steel Mills and problems faced by textile sector, he said that they were looking into all issues and would come up with solution soon.

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