EDB is a must for engineering industry, believes FPCCI
In a series of concern in the country, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concern over abolishing Engineering Development Board (EDB), calling for its continuity with more effective and transparent role for promoting engineering industry, especially auto industry in Pakistan. At FPCCI communication said Zubair F. Tufail, the president called a meeting of the stakeholders including automobile, automotive and auto spare parts associations at the Federation House to discuss the issue of abolishing EDB. The meeting noted that the EDB was playing a fundamental role in promotion of engineering sector, protection of domestic industry and strengthening it by giving incentives. The closure and shifting responsibility of the EDB would disrupt large-scale manufacturing; especially the auto industry and would further complicate the situation including creation of impediments in investments in auto sector especially the vending sector, they said. The EDB was an affiliated department of the Federal Ministry of Industries. It was established in 1995 with an aim to strengthen engineering sector, promote exports, increase technical training and enable import substitution. The board had presented two auto policies — in 2007 and 2016- which enhanced the number of auto assemblers from 3 to 55. The stakeholders urged proper implementation of auto policy, which would develop competition and bring opportunity of technology transfer. They also stressed on transparency, efficiency, expertise and merit in the EDB to fulfil objectives of strengthening engineering sector in the country 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 has a huge potential for contributing to economic growth and employment generation. Mr. Tufail assured that they would try to convince the government to continue with the EDB with complete restructuring of its Board of Directors by including representatives from private sector, Board of Investment (BOI) and the Pakistan Engineering Council (PEC).