Trade Development Authority of Pakistan still not disbursed EDF approved Funds to Federation of Pakistan Chambers of Commerce and Industry: Zakaria Usman
Karachi, December 08, 2014 (PPI-OT): The President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zakaria Usman regrets the delaying process of disbursement of approved funds from EDF by Trade Development Authority of Pakistan (TDAP) and said that the business community losing its confidence on TDAP because of slow pace of work in disbursing funds which have already been approved for the promotion and strengthening the traded and industrial activities in the country.
Zakaria Usman further said that FPCCI being a national chamber is playing its important role to enhance bilateral trade and economic relations with the other countries. Moreover, it also plays a key role in making suggestions to the government in preparation of national budget and other economic and trade policies.
He said that in the best of national interest, FPCCI often completes its projects on self finance basis but there are certain projects indeed in which we need the support and financial assistance of the government from EDF. He expressed his deep concern over those funds which have been released to TDAP for disbursement to FPCCI are still in pending even have been ordered for disbursement by the Hon’able Minister for Commerce Engr. Khurram Dastagir.
The TDAP has taken about one year in releasing the funds for the construction of building of FPCCI in Islamabad which is severely affected due to lack of funds. Why the TDAP officials are reluctant in releasing the approved funds to FPCCI and what are their objectives behind that delay are not understandable, said by Usman.
He further said that if any fraudulent activities have been made in the construction of FPCCI’s Islamabad building in the past, the matter is running in NAB for necessary investigation. But this investigation should not hamper the trade facilitation and promotion activities of the country, he said.
He urged the intervention by Hon’able Prime Minister Nawaz Sharif and Minister for Commerce Engr. Khurram Dastagir in the matter with intensive instructions to TDAP to disburse approved funds to FPCCI immediately.
For more information, contact:
M. A. Lodhi
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: +92-21-35873691, 93-94