ISLAMABAD: Prime Minister Imran Khan will lead as chairman of the newly-constituted National Export Development Board (NEDB).
The Ministry of Commerce has formed the NEBD to “increase Pakistan’s export competitiveness”. According to the notification, Prime Minister Imran Khan has been appointed as the chairman of the newly-constituted National Export Development Board (NEDB) while the board members comprises of government officials and private sector representatives.
The terms of references (ToRs) were also issued by the commerce ministry regarding the export development board. “To provide strategic guidance to increase Pakistan’s export competitiveness by continuously improving the enabling environment for exports and increasing firms’ capabilities,” read the TORs shared by the ministry.
The ministry said that the NEDB will also oversee the “alignment, progress, and implementation of Strategic Trade Policy Framework (STPF) along with various sector-specific policy initiatives”.
It will also serve as a “monitoring and evaluation platform” to help the government develop enhancement policies and initiatives in various export sectors. “To provide guidance and support to the relevant institutions mandated with the role to promote export-oriented foreign and local investment in the country,” said the statement. The ministry of commerce will act as the secretariat of the board and its meeting will be held bi-monthly.
The members will include the finance minister, planning minister, adviser to the prime minister on commerce, minister for industries and production, State Bank of Pakistan (SBP) governor, Federal Board of Revenue (FBR) chairman, Board of Investment (BoI) chairman, secretary finance, secretary commerce, export development board officials, as well as the members of the energy board and national food security.
The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) president, Pakistan Business Council (PBC) chairman and Overseas Investors Chamber of Commerce and Industry (OICCI) president are also included as the NEDB members.
After the constitution of the development board, the members of important government and private sector will be invited to discuss the relevant agenda. The board will act as a monitoring tool of the government’s policies to enhance exports.
The board will provide strategic guidance to the government for enhancing the export competition besides reviewing the implementation and progress of the country’s trade policy.