FPCCI Shows concern over Dissolution of EDB : AsiaNet-Pakistan

FPCCI Shows concern over Dissolution of EDB

May 3, 2018 | General Business News | Share:

Karachi, May 03, 2018 (PPI-OT): Syed Mazhar Ali Nasir Sr. Vice President FPCCI showed his serious concern over the decision of abolishing of Engineering Development Board (EDB) and termed it as anti-industry which would affect the engineering industrialization in Pakistan particularly disaster to auto industry. He stated that EDB is playing a crucial role in promotion of engineering sector by protecting the domestic industry and facilitating the engineering sector with incentives.

Over the years, the engineering industry has made substantial progress to produce motor vehicles, diesel engines electric transformers, switch gears, electric meters, electric home appliances, and sewing machines within the country, he added. While lamenting the decision of government, he stated that the share of engineering sector in exports is just 1-2 percent while it share is 30 percent in overall imports. The dissolution of EDB, if implemented would gravely affect the industrialization targets set by government and set back to the progress achieved during last five years in the industrial base in general and auto industry development in particular.

He urged the government that instead of dissolution of EDB it should be restructured according to global requirement as its current scope is just a recommending body on tariff decisions and limited to few industries, mainly dominated by the auto-sector. During the last decades, the EDB presented two auto policies i.e. in 2007 and 2016; which improved the auto industry and brought competition and technological advancement in auto industry.

He urged on the need of transparency, efficiency and merit in the EDB to fulfill the objectives of strengthening the engineering sector in Pakistan and integrate it with the world market as the future growth of Pakistan depends upon the engineering which have huge potential for employment generation in downstream and informal sector. Shifting the responsibility of EDB will disrupt the large scale manufacturing especially the auto industry and will create impediments in investments especially the vending sector.

Syed Mazhar Ali Nasir Sr. Vice President FPCCI ensured his full support and assistance to stakeholders for continuation of EDB with complete restructuring of its Boards of Directors by including the representatives from private sector, Board of Investment and Pakistan Engineering Council.

For more information, contact:
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi,
Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

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Category: General Business News