Islamabad: The efforts of the Ministry of Industries and Production have been successful in reviving the Engineering Development Board (EDB). Addressing a press conference, Abdul Razak Dawood said that the government has revived EDB with the approval of cabinet, adding a notification has been issued in this regard.
Last year the EBD had been dissolved by the Cabinet Committee on Energy (CCoE) after allegations of corruption surfaced against it. The Federal cabinet had decided to endorse the decision of the CCoE on July 13, 2017.
The EBD is expected to be completely restructured and a new industrial growth strategy will be developed Shifting focus from heavy industry to light industry. The EDB will also be given the role to improve local engineering through new technology i.e. surgical and auto parts. . The government has decided to implement import substitution and strive for increasing the export of engineering goods like motorcycles, refrigerators, air conditions and washing machines (white goods) and auto parts.
Dawood, when asked about the sharp decline of exports, said that the country is facing deindustrialization which has to be corrected. He further stated Pakistan has everything for exports and Pakistan should focus on it.