ISLAMABAD, Oct 7: The Board of Administration of Export Development Fund (EDF) has approved Rs8.8 million for implementation of trade initiatives announced in the trade policy 2006-07.

Chairing the EDF meeting Commerce Minister Humayun Akhtar Khan reviewed progress regarding the ongoing schemes financed through fund from EDF.

An official announcement issued here on Saturday said the board approved Rs6.8 million for strengthening of National Tariff Commission (NTC) to develop trade defence mechanism.

The EDF also approved a sum of Rs2 million to Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in connection with the draft preparation of law on revision of Trade Organisation Ordinance 1961.