ISLAMABAD: Prime Minister Syed Yousaf Raza Gilani has reconstituted Federal Export Development & Promotion Board (FEDPB) without ensuring release of funds to the Commerce Ministry allocated two years ago.
Commerce Secretary, Zafar Mahmood, recently apprised the representatives of different sectors at a meeting convened to discus forthcoming Trade Policy to the extent that the Ministry has received only one billion rupees against the allocation of Rs 27.2 billion for Strategic Trade Policy Framework 2009-12 and the resource mobilisation from other sources including Export Development Fund (EDF) also remained very low. Despite financial constraints, Commerce Ministry is hopeful that exports will touch $26 billion mark at the end of current financial year in spite of global economic slow down, domestic energy situation, maintenance of law and order, political stability and continuity in policy.
The reconstituted Board will be as follows: Prime Minister-Chairman, Minister for Commerce-Member, Minister for Finance-Member, Minister for Industries-Member, Minister for Textile-Member, Minister for Agriculture-Member, Minister for Investment-Member, Chief Minister Punjab-Member, Chief Minister Sindh-Member, Chief Minister Khyber- Pakhtunkhwa-Member, Chief Minister Balochistan-Member, Chief Minister Gilgit-Baltistan-Member, Prime Minister Azad Jammu & Kashmir-Member, Governor, State Bank of Pakistan-Member, Deputy Chairman, Planning Commission-Member, Chief Executive, TDAP-Member, Secretary Commerce-Member/Secretary, Secretary Finance-Member, Chairman, Federal Board of Revenue-Member, President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI)-Member, Chairman, National Assembly Standing Committee on Commerce-Member, Chairman, Senate Standing Committee on Commerce-Member, President, Karachi Chamber of Commerce & Industry (KCCI)-Member, President, Lahore Chamber of Commerce & Industry(LCCI)-Member, President, Khyber-Pakhtunkhwa Chamber of Commerce & Industry-Member and President, Balochistan Chamber of Commerce & Industry-Member.
The Terms of References (ToRs) of the Board are: (i) to periodically review the country's export performance; (ii) to examine all important matters relating to export promotion and to consider ways and means of improving export performance and (iii) to consider long-term plans and projections for the growth of export and to approve policy measures necessary for achieving exports targets. Commerce Ministry has also issued a notification which says that Ministry of Commerce would serve as the secretariat to the FEDPB. The new notification supersedes notification No 2(1)/2006-tex dated 22nd December 2008.