PM Imran Khan addressed meeting of Board of Administrators of Export Development Fund

PM Imran Khan addressed meeting of Board of Administrators of Export Development Fund

ISLAMABAD - Prime Minister Imran Khan Thursday said economic future of the country was linked with enhancement of exports which so far have remained far below the actual potential.

He said in the past the revenue-centric economic policies with overemphasis on collection of revenues made the industry uncompetitive, adding, the present government had made a paradigm shift in prioritizing the competitiveness of industry vis-à-vis revenue collection.

The prime minister was chairing 80th meeting of the Board of Administrators of Export Development Fund (EDF) here at prime minister office.

Expressing serious concern over the mismatch in collection and releases of the EDF during past years, the prime minister directed that timely release of EDF, which was indeed the exporters’ money, be ensured during the current year.

He further directed that a comprehensive system should be devised for the future to ensure unhindered releases and optimum utilization of EDF for its mandated purpose.

The Board of Administrators of EDF reconstituted the Finance Committee of the EDF Board which would be chaired by the Advisor to the Prime Minister on Commerce.

The meeting approved budget and the schedule of activities to be held during the TEXPO Exhibition 2019 at Lahore Expo Centre on April 11-14 this year.

It was decided during the meeting that the EDF Board would also include Secretary Textile Division, as its member, to ensure representation of the textile sector, being the major contributor towards exports of the country.

Talking to leading businessmen, the prime minister said the government would continue taking the business community on-board in policy formulation process, adding, their feedback would help the government further improve policy framework and to extend maximum facilitation to the exporters and businessmen of the country.