Islamabad, September 22, 2024 – In a significant push for Pakistan’s export sector, the Export Development Fund (EDF) has approved 20 key proposals worth Rs 8.5 billion across industries including textiles, agriculture, gems and jewelry, defense, and global branding initiatives. These initiatives aim to drive export growth and enhance Pakistan’s presence on the international stage.
This decision was made during the 85th meeting of the EDF Board, chaired by Minister for Commerce Jam Kamal Khan. Out of 29 proposals, the Board greenlit 20 major projects, including Pakistan’s participation in Expo 2025, to be held in Osaka, Japan. The meeting underscored the importance of channeling funds toward value addition, research and development, and infrastructure improvements to boost export competitiveness and international marketability.
Minister Jam Kamal Khan highlighted the significant reforms within the EDF, which have positioned it to support Pakistan’s export sector more effectively. “The reformed EDF is poised to enhance Pakistan’s exports by targeting key areas such as infrastructure, global compliance, and branding. We are committed to facilitating exporters at the national level and ensuring that Pakistan’s products meet international standards,” he stated.
The Board was informed of a series of reforms implemented recently, which include the EDF’s notification as an autonomous body, amendments to the EDF Act enabling direct transfers of Export Development Surcharge to the EDF Public Account, and the digitalization of revenue collection systems. These reforms have been made possible through collaborations with the State Bank of Pakistan (SBP) and Pakistan Single Window (PSW), streamlining the fund’s operations and improving efficiency.
One of the key initiatives includes a project with the FCDO Remit Project, which aims to define the EDF’s long-term vision, mission, and strategy. In addition, a Chartered Accountancy firm has been hired to restructure the EDF, ensuring the transparent and effective utilization of resources. The restructuring process is also intended to strengthen impact assessments, enabling the Board to monitor the success of its investments in export development.
Chairman Jam Kamal Khan also directed the formation of various committees, drawn from EDF Board members, to oversee research and development, technology enhancement, and international outreach. These committees will work towards ensuring that the EDF maintains a forward-looking and proactive approach, especially in terms of expanding Pakistan’s global market presence.
Among the approved projects were a number of significant marketing interventions, including high-profile exhibitions such as Texpo 2025 organized by the Trade Development Authority of Pakistan (TDAP), IDEAS by the Defense Export Promotion Organization (DEPO), and a Gems and Jewelry Show hosted by the Federation of Pakistan Chambers of Commerce & Industry (FPCCI). Additionally, TDAP will organize the OIC-Conference and WEXNET, a women-empowerment initiative aimed at increasing female participation in exports.
These events will serve as branding opportunities for Pakistan and provide a platform for local exporters to showcase their products to international buyers. Moreover, the EDF has approved funding for facilitating international buyers through hospitality services and B2B matchmaking to foster partnerships and increase sales.
Research and development projects were also a key focus, with the Board approving the opening of UNIDO-assisted International Technology Promotion Offices at the Technology Upgradation and Skill Development Company (TUSDEC). Other initiatives include a Disease Diagnostic Research Centre for mangoes at Sindh Agriculture University, Tando Jam, a Design Centre at Pakistan Institute of Fashion Design in Lahore, and a Solar Tunnel Dryer for exportable dried chilies in Umerkot, Mirpur Khas, and Badin.
The Board also greenlit the completion of Peshawar’s first Expo Centre, which will provide a much-needed platform for entrepreneurs in Khyber Pakhtunkhwa to host international exhibitions, expanding the region’s export potential.
This meeting marked the first for the newly constituted EDF Board, which includes ex-officio members from the ministries of commerce, finance, industries, the SBP, and TDAP, as well as 15 private-sector representatives from various industries. The new Board offers diverse regional and sectoral representation, with key figures from the textile, agriculture, livestock, chemical, and engineering sectors.
Notable private sector members include Bilal Tata from Tata Best Foods, Aamir AllahWala from Tecno Group, and Ms. Mehreen Obaid from Towellers Limited, who represents women-led export enterprises. Chairman Kamal Khan assured members that future meetings of the EDF Board would be held regularly to ensure swift progress on the approved initiatives and to consider the remaining proposals. He reiterated the Board’s commitment to channeling funds into productive projects aimed at strengthening Pakistan’s export capabilities.
With the EDF’s renewed focus and strategic initiatives, the country’s export sector is poised for a significant boost in the coming years.
