ISLAMABAD, March 1: The Export Development Fund (EDF) board has approved Rs55.2 million for implementation of the initiatives announced in the Trade Policy 2005-06.

An official announcement issued here on Wednesday said that Rs2 million had been approved as assistance for Mandatory Certification from internationally accepted laboratories; Rs10 million as assistance for relocation of industries and Rs2 million earmarked for promotion of Pakistani trade marks.

For the leather garment sector, the board approved purchase of quilting machines, embroidery machines and software/equipment costing Rs41.2 million by Pakistan Leather Garments Manufacturers and Exporters Association.

The board also reviewed the progress of establishment of Exhibition/Display Centre at Sharjah and constituted a two-member Steering Committee comprising EPB vice-chairman and the Commercial Counsellor in Dubai to start the initial work of the project. The annual report of Export Development Fund for the year 2004-05 was also approved for submission to the federal government.

Minister for commerce/chairman of the EDF board presided over the meeting. The participants of the meeting included secretaries, commerce and textile industry, vice-chairman, Export Promotion Bureau (EPB) and vice-president, Federation of Pakistan Chamber of Commerce and Industry (FPCCI).