Tag Archives: Engineering Development Board (EDB)

Stakeholders calls for revoking decision

on 08/08/2017

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).

200 textile, leather units on verge of collapse

on 16/07/2017

FPCCI, trade bodies demand restoration of EDB

Trade bodies and the chambers, in a national conference held under the banner of FPCCI in Lahore, have demanded restoration of the Engineering Development Board (EDB). They also stressed upon immediate payment of refunds to the industry. Vice President SAARC Chamber Iftikhar Malik said that the number of research centers and laboratories should be increased while there should be strong linkage between industry and the academia. Research is very important for promotion of industries and same should be on industrial requirement. He said there is dire need of skilled manpower as CPEC projects are bringing many job opportunities in the country. He said the United Business Group (UBG) would never ever compromise on the interests of the business community and take their genuine grievances to higher levels. He said that the auto industry and agricultural sector were not showing proper growth. Pakistan’s auto market is considered among the smallest but it is fastest growing in South Asia, demanding the government should follow its own “Auto Policy 2016-21” and offer tax incentives to new automakers for establishing manufacturing plants in the country. He said that the EDB in past played a significant role for promotion of hardware engineering and he wondered why the government dissolved such important department. He demanded to restore the board as soon as possible. Patron-in-chief UBG and former Chief Executive of the Trade Development Authority Pakistan SM Muneer claimed a major chunk of industries especially textile and leather was suffering colossal financial losses and thus needed immediate oxygen otherwise industrial sector would collapse. He said nearly 200 textile and leather units were forced to shut down because of heavy taxation and absence of relief from the government. SM Muneer stressed upon an urgent need for introducing pro-poor, business friendly , export and growth oriented monetary policies to help strengthen national economy on sound footings besides restoring confidence of foreign and local investors. Manzoor-Ul-Haq Malik, Regional Chairman FPCCI, said the elected government should focus on issues of business sector otherwise they would lose their vote bank. He said government should make efforts to bring non-registered tax payers into tax net instead of squeezing already registered tax payers. Tax return system should be simplified. Help desk of Punjab Revenue Authority should be established at each Chamber of District. Discretionary powers given to the Federal Board of Revenue officials should be withdrawn. Business representative should be included as Board of Directors of all Government Institutions, PBIT, TDAP, FBR and NTC. He further stressed on enhancing industrialization, balancing trade, increasing exports. He added double taxation should be discouraged. He said direct taxes should be encouraged instead of indirect tax system. He said Pakistan was at 144th number of ease of doing business ranking of World Bank out of the list of 190 countries which is alarming.