KARACHI, April 10: Commerce Minister Hamayun Akhtar Khan on Thursday said the government was working on a project with the assistance of the Asian Development Bank to split the EPB into facilitation and marketing sections.

The marketing section would be placed with an independent body or corporation which could hire people from the market as per its requirement, while the facilitation services would remain in the government department.

Talking to the members of the Karachi Stock Exchange during his visit to the exchange here, he said the complete privatization of the EPB was not viable as the facilitation function of the Bureau has to be with the government to deal with various ministries and departments and get the things going smoothly for the promotion of exports. He said the only issue of performance related to the marketing function of the bureau which would be made independent in near future.

He said a package would be announced soon for the exporters, besides setting up of an import-export bank to facilitate the importers and exporters, especially the small and medium importers and exporters. He said his ministry was also working on a plan to launch a federal fund for project financing.

Mr Hamayun also pointed out that it was necessary to lower the electricity tariff to ensure level playing field to the local industries before they are opened up for global competition.—APP