EDB dissolution termed anti-industry

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over the government decision to abolish Engineering Development Board (EDB) and termed it anti-industry, a statement said on Thursday.

This would badly affect the engineering industrialisation in Pakistan, especially for the auto industry.

FPCCI Senior Vice President Syed Mazhar Ali said that EDB is playing a pivotal role in the promotion of engineering sector by protecting the domestic industry and facilitating the engineering sector with incentives. Over the years, the engineering industry has made substantial progress in producing motor vehicles, diesel engines, electric transformers, switch gears, electric meters, electric home appliances, and sewing machines within the country, he said.

He lamented the government decision and said the dissolution of EDB, if implemented, would gravely affect the industrialisation targets set by government and would be a setback to the progress achieved during the last five years in the industrial base.

He urged the government to restructure EDB according to global requirements instead of its dissolution.