KARACHI, July 19 (TNS): All the stakeholders have shown their concern over the abolishing of EDB and termed it illogical and unjustified.
Zubair F. Tufail, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday called a meeting of stakeholders to discuss the abolishing of Engineering Development Board (EDB) at Federation House, Karachi.
The meeting was attended by all Vice Presidents of FPCCI (Sindh Region) and the representatives of different associations including Automobile, Automotive and Auto Spare parts associations.
They stated that the government took this decision unilaterally without consulting the FPCCI and other trade bodies. The EDB was playing a fundamental role in promotion of Engineering sector, protection of domestic industry and strengthening it by giving incentives.
The EDB was an affiliate department of Ministry of Industries established in 1995, with an aim to strengthen engineering sector, promote exports, increase technical training and enable import substitution. The Board has presented two auto policies i.e. in 2007 and 2016; which enhanced auto assemblers from 3 to 55.
The proper implementation of auto policy will develop competition and bring opportunity of technology transfer. They pointed out that since 2010; the Government has failed to give due importance to EDB or the engineering sector and EDB operated without a CEO for almost 3 years between 2012-2015 and since March 2017.
The stakeholders also stressed on the need for transparency, efficiency, expertise and merit in the EDB to fulfill the objectives of strengthening the engineering sector in Pakistan and integrate it with the world market to make it the driving force for economic growth as the future of Pakistan depends upon the industries particularly on engineering, chemical and information technology industries which have huge potential for contributing in economic growth and employment generation.
They stated that the closure and shifting the responsibility of EDB will disrupt the large scale manufacturing; especially the auto industry and will further complicate the situation including the creation of impediments in investments in auto sector, especially the vending sector.
President FPCCI Zubair Tufail ensured his full support and assistance to stakeholders and stated that the FPCCI will try to convince the government to continue with EDB with complete restructuring of its Boards of Directors by including the representatives from private sector, Board of Investment (BoI) and Pakistan Engineering Council (PEC).
The meeting further decided that the FPCCI will take up the matter with President Mamnoon Hussain, Prime Minister Nawaz Sharif and Federal Finance Minister Senator Ishaq Dar in the coming week.