Commerce Division Proposes Extension of EDF Board to Ensure Continuity of Reform Process

In a move aimed at ensuring the successful completion of critical reforms, the Commerce Division has proposed the reappointment of the existing Board of Administrators of the Export Development Fund (EDF) for another one-year term to the Federal Cabinet. Sources told ProPakistani that the Commerce Division has submitted a summary to the Cabinet, recommending the extension under Sections 5(2) and 6 of the Export Development Fund (EDF) Act, 1999. This proposal is part of ongoing efforts to enhance the efficiency and effectiveness of the EDF through a comprehensive restructuring process. The EDF Board, initially reconstituted and notified by the Federal Cabinet on August 16, 2024, and January 23, 2025, was appointed for a one-year term, which is set to expire on August 15, 2025. During this tenure, significant progress has been made toward institutional reform, with a detailed strategy currently being implemented under the guidance of the ReMproject. The Board of Administrators of the Export Development Fund (EDF) consists of several key members, including Mr. Jam Kamal Khan, the Federal Minister for Commerce and Chairman of the Finance Committee for the EDF Board, as well as Mr. Jawad Paul, the Federal Secretary for Commerce and Vice Chairman of the EDF Board. Other members include the Chief Executive of the Trade Development Authority of Pakistan, the Secretary of the Finance Division, the Secretary of the Industries and Production Division, and a senior official from the State Bank of Pakistan nominated by the Governor of SBP. Additionally, the Presidents of various Chambers of Commerce, including the Federation of Pakistan Chambers of Commerce & Industry, the Sarhad Chamber of Commerce & Industry, the Karachi Chamber of Commerce & Industry, the Lahore Chamber of Commerce & Industry, the Quetta Chamber of Commerce & Industry, and the Sialkot Chamber of Commerce & Industry, are part of the board. Also included are the Chairmen of key associations such as the Pakistan Readymade Garments Manufacturers & Exporters Association, Pakistan Hosiery Manufacturers & Exporters Association, Rice Exporters Association of Pakistan, Pakistan Chemical Manufacturers Association, and the All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association. The board further includes Mr. Bilal Shahid Anwar Rata, CEO of Tata Best Foods Limited, Mr. Aamir Ahmad Allahwala, CEO of Tecno Group, Ms. Mehreen Obaid of Towellers Limited in Karachi, and Mr. Waqas Azeem, Secretary of the EDF Board and Joint Secretary in the Ministry of Commerce, who handles the relevant subject. “The current EDF Board has played a pivotal role in initiating and advancing critical reforms. Their continued presence will ensure that ongoing initiatives reach a logical and effective conclusion,” stated an official from the Commerce Division. The Export Development Fund, established in 1992 and formalized through the EDF Act of 1999, is a key instrument for promoting and financing activities that boost Pakistan’s export potential. The Board of Administrators is central to the Fund’s governance, and its stability is considered vital for long-term strategic planning and execution. Officials emphasized that retaining the current board members would preserve institutional memory and provide the necessary continuity to drive reforms to a successful conclusion. The proposal is currently under consideration by the Federal Cabinet, and its approval would mark a strong commitment by the government to institutional stability and the long-term growth of Pakistan’s export sector.