TDAP dubbed 3rd corrupt organisation

Thursday, December 17, 2009
By Jawwad Rizvi

LAHORE: The Trade Development Authority of Pakistan (TDAP) has been described to be the third most corrupt organisation in the country in a report recently released by the Transparency International.

The TDAP is the custodian of Export Marketing and Development Fund (EMDF) and spends 80 per cent of EMDF budget on holding exhibitions abroad. However, owing to corruption in its rank and file, the fund is mismanaged. Officials at the authority’s headquarters told The News that one of the recent examples of such corruption is the award of stand construction contracts out of merit and in violation of rules and procedures of the TDAP.

State Bank announces payment of 6pc R&D

KARACHI: The State Bank of Pakistan has announced procedure for payment of 6 per cent Research and Development (R&D) support on export of processed food.
 
The SBP issued a circular inviting attention of authorised dealers to Trade Development Authority of Pakistan’s (TDAP) public notice on the subject of 6 per cent R&D support for export of processed foods.
The federal government has allowed 6pc R&D support on exports of processed food subject to observance of certain terms and conditions.

‘Claims so received may be forwarded to the TDAP for further necessary action at their end,’ said the SBP circular.