The president of Pakistan through presidential ordinance has promulgated the ordinance of Trade Development Authority (TDAP) on Tuesday, which would replace the EPB that has been responsible for export promotion for the last 43 years in the country, sources told Business Recorder.
Government had announced the establishment of TDAP Trade Policy of current financial year. Although, it was earlier announced that this new organisation would be established through an act of parliament, however despite the passing many months, it did not came to parliament. And finally, on Tuesday, as was being predicted by higher government officials, TDAP came into establishment through a presidential ordinance.
According to sources, if the TDAP bill had been moved to the parliament, it would have taken longer time particularly in the present situation when many other important political issues would figure during the coming session of parliament. Besides, objections by the parliamentarians on different clauses of the authority could also take it too longer to be passed, sources added.
Establishment of the TDAP would be conducted in two phases. In the first phase spread over around six to eight months, planning side would be taken care of while in the second phase the implementation would take about a year.
TDAP would be supervised by a Policy Board chaired by the Commerce Minister while the members would be the representatives of both public and private sectors. It would be staffed by highly qualified professionals who would be offered market competitive remuneration packages.
According to Trade policy document, which declared that it would be equipped with the necessary resources and autonomy so that it could effectively exploit opportunities for increasing Pakistan''''s prosperity through enhanced trade.
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