TDAP approves new projects to augment export

Karachi: The government has approved 12 new projects which the Trade Development Authority of Pakistan (TDAP) has developed with a view to augmenting the export of value-added products.

The Export Development Fund Board (EDFB) has approved all 12 projects of TDAP which include College of Fashion and Design-Karachi, Dazzle Park - Karachi, Pack House & Cold Storage - Multan and Nawabshah, Processing Institute - Khairpur, Carpet Training Institute - Quetta, Expansion & upgradation of Gems & Geological Institute of Pakistan - Peshawar, Agro food technology Institute - Lahore, Institute of Leather Technology - Lahore, Institute of Marble Technology - Karachi and Peshawar, Carpets & Crafts training institute - Hala, Expo Center - Multan, Pakistan Packaging Institute - Karachi.

This was stated by TDAP Chief Executive Syed Mohibullah Shah at a press conference held at the authoritys main office on Saturday. He said that EDFB has given approval of these projects in its 54th meeting held on March 20, 2009. He pointed out that these projects have been developed as part of new initiatives of the authority in pursuance of its new export strategy, which is aimed at increasing the countrys exports particularly the share of value-added products.

Shah said that these projects have been identified after an intense research and study carried out in the export-oriented sectors. About funding to establish these institutes, he said that initially EDF will be utilised to undertake work on them, however afterwards finance will be acquired from Public Sector Development Program (PSDP). He hoped that these projects will be functioning fully in next four to five years.