0.25% Export Development Surcharge Scrapped
The government has scrapped the 0.25 percent Export Development Surcharge EDS to give relief to exporters and improve Pakistan’s global competitiveness. Prime Minister Shehbaz Sharif also directed that Export Development Fund EDF money must only support research, skills and export growth. A Steering Committee led by the private sector will oversee the use of Rs 52 billion in the EDF. The government will revise laws about EDS collection and conduct a third-party audit of the EDF to ensure transparency. Exporters say they face high taxes and costs and urgently need such support.
