The Pakistani government has ramped up efforts to boost exports by approving over Rs. 8.5 billion in funding for key sectors such as textiles, agriculture, and global branding, the Ministry of Commerce announced.
The decision came during the 85th meeting of the Export Development Fund (EDF) Board, chaired by Commerce Minister Jam Kamal Khan.
The meeting marked the first gathering of the newly constituted EDF Board, which includes both government officials and private sector representatives from diverse industries.
Export Development Fund (EDF) Initiatives
The EDF Board, which met on September 20, 2024, reviewed and approved 20 out of 29 financial proposals, focusing on sectors critical to Pakistan’s export growth. These projects are designed to enhance value-added industries, promote international marketing, and support technological advancements in various sectors.
The approved projects cover a wide range of industries, including:
- Textiles, Agriculture, and Food: Significant funding has been directed toward the textile and food industries, with plans to expand Pakistan’s global reach through trade fairs and exhibitions. Pakistan will showcase its products at international platforms, including the Expo 2025 in Osaka, Japan, as part of a broader strategy to strengthen its export markets.
- Gems and Jewelry, Defence Sector: The gems and jewelry sector, along with the defence industry, will benefit from increased marketing efforts, including the organization of domestic exhibitions such as Texpo 2025 and IDEAS by the Defence Export Promotion Organization (DEPO).
- Technology and Research Advancements: Several projects focused on research and development have been greenlit, including the establishment of a Disease Diagnostic Research Centre for Mangoes at Sindh Agriculture University, Tando Jam, and a Design Centre at the Pakistan Institute of Fashion Design, Lahore. Moreover, a UNIDO-assisted International Technology Promotion Office will be opened at TUSDEC.
- Infrastructure for Export Promotion: The construction of Peshawar’s first Expo Centre was also approved, providing Khyber Pakhtunkhwa entrepreneurs a platform for international exhibitions.
Private Sector Involvement
The newly restructured EDF Board includes key figures from the private sector, such as Bilal Tata from Tata Best Foods, Aamir AllahWala from Tecno Group, and Mehreen Obaid from Towellers Limited, reflecting a broad representation of regional and sectoral interests. The Board aims to implement forward-looking strategies to enhance exports through value addition, compliance with international standards, and targeted global branding efforts.
Digital Reforms and Transparency
The meeting also highlighted recent digital reforms within the EDF, including the automation of revenue collection and restructuring of the organization for enhanced efficiency and transparency. A chartered accountancy firm has been engaged to conduct an impact assessment and future planning for the EDF’s resources.
Committees formed for Strategic Development
To further streamline its operations, the EDF Board formed various committees to oversee research and development, training, and international outreach. The Board also emphasized the importance of creating direct communication channels between EDF and exporters via the Pakistan Single Window (PSW) platform to facilitate data-driven decisions and market intelligence.
Commerce Minister Jam Kamal Khan expressed confidence in the new EDF reforms, stating, “The reformed EDF is well-positioned to channel its resources into impactful interventions that will boost Pakistan’s exports in diverse sectors.