EXPORT DEVELOPMENT FUND: The Federal government announces to release Rs

20 billion of EDF to help the exporters explore new markets for Pakistan's non-
traditional items.

Formally announced by Finance Minister Dr Abdul Hafeez Shaikh in a meeting with the
Federation of Chambers of Commerce and Industry (FPCCI) at Federation House. FPCCI
hopes that the assurance would help in the release of Rs. 20 Billion from EDF, while
demanding further assurance that the fund is not misappropriated.

Concerns of business community were based on the past delays in the release of Rs 236.5
million for the construction of Saarc Chamber of Commerce and Industry secretariat.
Issues of delays from EDF, being raised by FPCCI former president Iftikhar Ali Malik
and Tariq Sayeed for a number of key projects, including Saarc Chamber headquarters
building.

The FPCCI leaders, senator Ghulam Ali, Tariq Sayeed , Iftikhar Ali Malik, advisor
Sindh government Ikhtiar Baig, Munir, A Hameed Chada, all seven vice chairmen
proposed, Dr Abdul Hafeez Shaikh that the timely release and proper utilization of EDF
is required to enhance exports.

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