The Board of Directors (BoD) of Export Development Fund (EDF) on Tuesday authorised the Trade Development Authority of Pakistan (TDAP) to hold 'AaliShan Pakistan Exhibition' in London in June 2015 with a massive cost of Rs 360 million to promote Pakistani brands in the UK. The exhibition will include trade and fashion shows, showcasing Pakistani products and brands of textile, rice, pharmaceutical, fruits and vegetables, building material etc.
The Board was informed that the UK was the fifth largest export destination of Pakistan and there was a huge Pakistani diaspora settled in there. A quarter of all of Pakistan's exports to European Union are to England and the balance of trade is in favour of Pakistan which makes it a lucrative export destination of Pakistani products. Well informed sources told Business Recorder that expenditure and other pre-requisites of the exhibition would be finalised in the next meeting scheduled to be held on March 24.
According to sources, an internal war is going on in the TDAP on the constitution of an official delegation for the exhibition. The Commercial Counsellor in London from customs group, sources said had sent exaggerated expenditure estimates of the exhibition.
According to an official statement, the Board in its 67th meeting held under the chairmanship of Minister for Commerce, Engr Khurram Dastgir Khan, took decisions on several issues pertaining to promotion of exports. The Board constituted a sub-committee on Finance which will conduct appraisal of the proposed projects for export promotion and judicious disbursement of the budget of the Export Development Fund. The committee will be headed by the Secretary Commerce and it will critically examine all the proposals for financial assistance from EDF and put its findings before the Board for final approval.
The board also approved the appointment of an audit firm for third party audit of the projects being run under the EDF to bring transparency and efficiency in the EDF-funded projects. Minister for Commerce, Engr Khurram Dastgir Khan, said that the Board and the Ministry of Commerce were making efforts to devise an effective mechanism for the approval of projects and disbursement of funds under the EDF for maximum export enhancement.
The Board decided to pay salaries to the employees of Pakistan Horticulture Development Company (PHDEC) and directed that the company should generate its own revenue to sustain its operations. The Ministry of National Food Security and Research put forth two projects for enhancement of export of fruits and vegetables, which were forwarded to the Committee on Finance for thorough scrutiny. The projects included establishment of four houses for packing of fruits and vegetables, which has a huge export market but because of outdated packing techniques, Pakistani fruits and vegetables have yet to find desired place in the international market. The second project is related to registration of citrus farms, which follow best practices and are found free of any harmful pest. The Board also decided to strengthen the EDF Secretariat with adequate human resources for better co-ordination and oversight of the projects.