RECORDER REPORT

KARACHI: Senior vice president of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Syed Mazhar Ali Nasir has opposed the dissolution of Engineering Development Board (EDB) and proposed that EDB should be restructured according to global requirement as its current scope is just a recommending body on tariff decisions and limited to few industries, mainly dominated by the auto-sector.

He termed EBD dissolution an anti-industry decision which would affect engineering industrialization in Pakistan, particularly a disaster to auto-industry.

“The EDB is playing a crucial role in promotion of engineering sector by protecting the domestic industry and facilitating engineering sector with incentives,” he said, adding that over the years, engineering industry has made substantial progress to produce motor vehicles, diesel engines electric transformers, switch gears, electric meters, electric home appliances, and sewing machines within the country.

He lamented that that share of engineering sector in exports is just 1-2 percent while its share is 30 percent in overall imports.  

He said dissolution of EDB, if implemented, would gravely affect industrialization targets set by government and set back progress achieved during last five years in the industrial

base in general and auto-industry development, in particular.

FPCCI’s SVP said that during last decades, the EDB presented two auto policies: in 2007 and 2016; which improved auto industry and brought competition and technological advancement in this sector.

He stressed on need of transparency, efficiency and merit in the EDB to fulfill the objectives of strengthening the engineering sector in Pakistan and integrate it with the world market as the future growth of Pakistan depends upon the engineering which have huge potential for employment generation in downstream and informal sector.  

“Shifting the responsibility of EDB will disrupt the large scale manufacturing especially the auto industry and will create impediments in investments especially the vending sector,” he said.

S Mazhar Nasir assured his all out support and assistance to stakeholders for continuation of EDB with complete restructuring of its boards of directors by including the representatives from private sector, Board of Investment and Pakistan Engineering Council.