Islamabad (HRNW)– Prime Minister Shahbaz Sharif has directed the immediate abolition of the Export Development Surcharge imposed on exports.
A review meeting on the recommendations of the sub-working group established to boost domestic exports was held under the Prime Minister’s chairmanship. During the meeting, he ordered that the Export Development Surcharge on domestic exports be abolished immediately.
The Prime Minister emphasized that a third-party audit of the Export Development Fund for the last five years should be conducted according to international standards. He also instructed that a suitable chairman be selected from the private sector to ensure the best utilization of the existing funds in the Export Development Fund.
Shahbaz Sharif stressed that the fund should be used exclusively for increasing domestic exports, research and development, workforce skilling in the export sector, training, and providing modern world-class facilities. He also ordered a third-party audit of all programs and schemes under the Export Development Fund. The role of TDAP is to be reformed and restructured to further enhance domestic exports.
He highlighted that any irrelevant or illogical use of the Export Development Fund is unacceptable. Publicity and promotion of Pakistan’s export goods globally remain the responsibility of the federal government. Providing immediate support to industrialists to increase domestic exports is a top priority.
Earlier, recommendations were presented in the meeting, and the Prime Minister appreciated the work of the working group, issuing effective orders to all relevant institutions to implement the recommendations promptly.
The meeting was attended by Federal Ministers Ahsan Iqbal, Muhammad Aurangzeb, Jam Kamal, Dr. Mosaddiq Malik, Ali Pervez Malik, Minister of State Azhar Bilal Kayani, Chairman SIFC, and other senior officials.
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