Prime Minister Shehbaz Sharif has ended the Export Development Fee to support exporters and boost Pakistan’s trade performance. This decision comes after a sub-working group reviewed sector-specific challenges and recommended measures to improve export competitiveness. The approval aims to reduce costs for exporters and encourage greater participation in international markets.
Pakistan’s exports have risen slightly to $13.7 billion in the first four months of the current fiscal year, up from $13 billion last year. The World Bank estimates nearly $60 billion in untapped export potential, showing that more supportive policies could significantly increase trade. Removing the fee is expected to make Pakistani products more attractive globally.
The government also ordered a five-year audit of the Export Development Fund, appointing a private-sector chairman to ensure funds are properly used for export promotion, research, and workforce training. This ensures accountability and effective support for exporters.
Additionally, the Trade Development Authority of Pakistan will be reviewed and restructured to improve global marketing of Pakistani products. The goal is to strengthen Pakistan’s presence in international markets and foster long-term trade partnerships.
Overall, these steps aim to remove barriers for exporters, enhance competitiveness, and unlock Pakistan’s export potential while supporting economic growth.
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