close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

EDB, PBC ink cooperation MoU

Business

January 13, 2021

LAHORE: Pakistan Business Council (PBC) and Engineering Development Board (EDB) have signed a Memorandum of Understanding (MoU) to jointly work for the development of engineering goods and services sectors, a statement said on Tuesday.

Chairman EDB Almas Hyder and Chairman PBC Saquib Shirazi, signed the agreement at the Lahore Chamber of Commerce & Industry in the presence of officials from both sides and the business community representatives.

Commenting on the development, Chairman EDB said, “The global engineering sector presents a huge potential for Pakistan to expand its footprint as currently we only tap 0.04 percent of the approximately $9 trillion exports segment”.

Almas said engineering was the only sector which could race to a $5 billion export target in the next three years from its

current base of approximately $1.6 billion, taking Pakistan total exports to above $35 billion.

Chairman PBC in his remarks said, “Working relationship will concurrently boost the image of Pakistan and contribute towards improvement of the domestic market and exports by expansion of this value-added sector”.