KARACHI, April 27: The chairman, Export Promotion Bureau (EPB), Tariq Ikram said Saturday that Asian Development Bank (ADB) will conduct a study for the restructuring of the Bureau.

He was addressing the members of the Karachi Chamber of Commerce and Industry (KCCI). Ikram said that a foundation has been laid for a new EPB in the country during the past one and a half year.

He said ADB will finance the study on EPB for further improving its performance.

Similarly, EPB has requested Japan to provide finances and expertise for improving the performance and productivity of 29 vocational institute run under the Bureau.

He said at least six to seven of these institutes are functioning better while EPB was concentrating on seven to eight to improve their performance.

He said the EPB has urged the government to raise the grant for the Bureau from existing Rs400 million to Rs1 billion. He hoped that this amount will be provided to the bureau in the coming budget.

Ikram said about 600 unwanted employees have been retrenched under the right-sizing and organizational restructuring, and now EPB has a new look.

Referring to the fall in country’s exports, EPB chairman said that damage control strategy has brought better results and Pakistan’s exports fell by only 2.5 per cent during 2001-2002 despite worldwide recession.

Giving comparison, he said exports of South Korea declined by 16.5 per cent, Malaysia 12 per cent, Singapore 14 per cent, Bangladesh 9 per cent, Indonesia 10 per cent while India remained unchanged over last year.

Ikram pointed out that the exports of development products have surged by 3 per cent while non-traditional exports increased by 16 per cent over last year.

Earlier, acting president KCCI Iftikhar Ghani Vohra in his address of welcome suggested that government must announce an incentive package for businessmen.

He also demanded abolition of export development surcharge.—APP