The board of Export Development Fund (EDF) on Tuesday approved four projects worth Rs 264.5 million in Lahore, Karachi and Multan to boost country's exports. The decision was made here in 40th meeting of the EDF board with Commerce Minister Humayun Akhtar Khan on chair. According to a statement the board approved funding from EDF for the project of national importance like Combined Effluent Treatment Plant (CETP) for Korangi Tanneries.
The board approved Rs 106 million for completion of this project. Funds amounting to Rs 228 million have already been contributed from EDF for this project.
The other three major projects for which the Board approved funding including Establishment of Garment City at Lahore (Rs 103 million), Pakistan Tobacco Board for up-gradation of its Research and Development (R&D) laboratories (Rs 27.5 million) and establishment of Cotton Ginning Research and Training Institute at Multan (Rs 28 million). The board also decided that a corporate entity would be formed for the management of the Cotton Ginning Institute.-PR