PM Imran says govt to take businessmen into confidence in policy formation

ISLAMABAD: Prime Minister Imran Khan on Thursday assured businessmen that his government would take the business community on board in policy formulation process.

Chairing the meeting of the Board of Administrators of Export Development Fund, he said feedback from business community would help the government further improve policy framework and to extend maximum facilitation to the exporters and the businessmen of the country.

He said the PTI government has made a paradigm shift in prioritizing the competitiveness of industry vis-a-visa revenue collection while in the past the revenue centric economic policies with overemphasis on collection of revenues led to un-competitiveness.

“Economic future of the country was linked with enhancement of exports which so far have remained far below the actual potential,” he said.

Expressing concern over the mismatch in collection and releases of the Economic Development Fund during past years, the premier directed that timely release of the fund be ensured during the current year.

He said  a comprehensive system should also be devised for the future to ensure unhindered releases and optimum utilization of EDF for its mandated purpose.

The Board of Administrators of EDF, reconstituted the Finance Committee of the EDF Board which will be chaired by the Advisor to the Prime Minister on Commerce, said a statement issued after the meeting.

The meeting approved budget and the schedule of activities to be held during TEXPO Exhibition 2019 at Lahore Expo Centre on 11th -14th April 2019. A

According to the statement it was also decided that the EDF Board would also include Secretary Textile Division, as its member, to ensure representation of the textile sector, being the major contributor towards exports of the country.