ISLAMABAD, May 18: The Board of Administrators of Export Development Fund (EDF) on Wednesday sanctioned Rs569 million for the freight subsidy scheme relating to export of new products and for new markets. An official announcement issued here said that the meeting headed by Commerce Minister Humayun Akhtar Khan approved Rs369 million for general freight subsidy, Rs190 for subsidy on leather garments and Rs10 million for inland freight subsidy.

The board also sanctioned Rs70 million for acquiring land for establishment of Dazzle Park for Gems and Jewellery in Karachi. It may be recalled that the proposal for establishment of Dazzle Park was approved by the Board in May 2004. It also sanctioned Rs2.5 million for Footwear Training Institute, Charsadda, NWFP.