A meeting, chaired by the Engineering Development Board’s (EDB) Chief Executive Officer Almas Hyder, deliberated on the electric vehicle policy drafted by the board in consultation with concerned stakeholders.
A comprehensive policy framework was proposed that caters to EVs, covers emerging technologies in the sector and ensures that the supply chains of the existing players may not be disrupted.
The board emphasized the need to have a favorable incentive regime to promote local investments and attract foreign direct investment (FDI).
A comprehensive plan for participation of the engineering sector in international trade fairs/exhibitions was also presented in the meeting. The members appreciated efforts made by EDB’s management to promote the engineering sector of Pakistan. The chairman advised organizing trade delegations to various free trade zones of African to tap the huge export potential in this region. Members also advised looking for trade opportunities in European and American markets.
CEO-EDB briefed the members on the competitive/efficiency improvement and export enhancement exercise being undertaken by EDB. In this regard, 350 companies, associations and chambers were approached to invite proposals in order to address the anomalies in tariff cascading, procedural delays in availing benefits like DTRE and technological constraints in meeting international benchmarks.
These proposals, once consolidated/evaluated by EDB and approved by the Board, will be submitted to the National Tariff Commission for approval.
An official statement said that in addition to approval of both draft policies, other administrative matters also came under discussion on which the advice of the Board Members was sought.
The EDB-BoM members appreciated the tasks being undertaken by EDB’s management to revitalize the organization and gave several suggestions to improve the working of this important organization to play its part well in the national as well as the development of the local industry to promote the GOP’s vision of ‘Made in Pakistan’.
FDI is most stupid thing ever….. imagine why should one invest in your biz?? for profits right? if you send all the profits abroad you remain poor as usual
Not really. One of the ways in which productivity increases is with greater access to capital and knowhow. FDI brings you that. So it leads to economic growth. The profit repatriation is not the whole story.
Not really. One of the ways in which productivity increases is with greater access to capital and knowhow. FDI brings you that. So it leads to economic growth. Profit repatriation is not all there is to it.
Good thinking.