PM Shehbaz orders abolition of Export Development Surcharge

Islamabad: Prime Minister Muhammad Shehbaz Sharif has directed to immediately abolish the Export Development Surcharge imposed on domestic exports.

He issued these directives while presiding over a review meeting on the recommendations of the Sub-working group established to increase domestic exports in Islamabad today.

The Prime Minister also directed to carry out a review of Trade Development Authority of Pakistan for reforms and revamping of the authority.

Shehbaz Sharif issued special directives for a third-party audit of the Export Development Fund for the past five years, in accordance with international standards.

The Prime Minister emphasized that the fund must be utilized for enhancing domestic exports, supporting related research and development, providing skill training to the sector's workforce, and providing world-class facilities. He added that any irrelevant or unjustified use of the fund would not be tolerated.

Shehbaz Sharif also instructed that a competent chairman from the private sector be appointed to ensure the optimal use of the fund's available resources.

The Prime Minister reiterated to promote and market Pakistan's export products globally. He added that providing maximum facilitation to industrialists to boost domestic exports remains one of the government's top priorities.