FAISALABAD. Engineering Development Board (EDB) has finalized its budget proposals for the next financial year. However, the proposals received from Faisalabad Chamber of Commerce & Industry (FCCI) would also be included in it, said Raza Abbas Shah Chief Executive Office, Engineering Development Board (EDB) Islamabad.
He expressed concern that generally the proposals are presented after due date and hence the same could not be included in the final draft of budget. He told that only 15-20 proposals were received in time whereas more than 2000 proposals were received after the due date. He requested the participants of the meeting to send their proposals through e-mails and what’sapp so that EDB could review and forward the same along with its recommendations to the Government.
He told that although the electricity and gas tariffs does not fall within its purview but we will certainly discuss it as it has negative impact on the cost of production.
About the sales tax on agriculture machinery/appliances, he said that the EDB will welcome recommendations from the stakeholders as it is our policy to support indigenization instead of depending on import.
Earlier, President Faisalabad Chamber of Commerce & Industry Rana Sikandar Azam Khan in its address of welcome emphasized the importance of engineering sector in national economy and told that despite of our best efforts; Pakistan is still importing entire machinery from abroad. He told that Faisalabad has some state of the art engineering units which are producing very complicated parts in addition to exporting the same to the international brands. However, their numbers are very few and we must provide latest technology to the most of the industrial and engineering concerns.
He told that the world is heading towards 4th industrial revolution but we are still using old and dilapidated power looms of 2000. “These looms could neither produce quality cloth nor bring down the cost of production”, hence we must replace old technology with new and indigenous looms.
Mr. Nasir Beg of EDB also addressed the meeting while Question-Answer session was held in which Dr. Khurram Tariq, Engineer Ahmad Hassan, Ashfaq Ashraf, Inam Afzal and Dr. Sajjad Arshad took part. Later Vice President FCCI Mr. Bilal Waheed Sheikh offered vote of thanks.