Pak PM Shehbaz Sharif has decided to eliminate the 0.25 per cent Export Development Surcharge (EDS) to relieve exporters. This decision by Pakistan PM comes at a time when global competition has intensified due to the presence of major competitors like India and Pakistan exports rate is continuous declining. Notably, according to a latest industry data, Pakistan’s rice exports declined sharply by 39% during the first 4 months of FY26, which further sharply fell to $553 million. New trade policy is expected to boost Pakistan’s competitiveness on international markets and relieve exporters.
Decisions on Pakistan economic reforms were taken during a meeting which was chaired by the prime minister Shehbaz Sharif. Among other measures to boost export growth were to remove the EDS to ease pressure on the export sector and strengthen its global trade competitiveness.
Shehbaz Sharif Promotes Ease of Doing Business
Pakistan is struggling to enhance exports and one of the main reasons behind this is the high cost of doing business. In this context, the prime minister of Pakistan earlier also brought economic reforms to reduce the cost of doing business, and in one such attempt he ended an unjustified television fee of Rs35 in every electricity bill. Given the deteriorating condition of Pakistan’s exports in presence of global competitors like India, China, Vietnam, Shehbaz Sharif has also directed officials to utilize Export Development Fund (EDF) money on boosting competitiveness of Pakistani goods on world markets. Pakistan a nation on road to economic recovery, has also decided that an interim steering committee, led by the private sector, will be constituted to ensure that the Rs52 billion currently available in the EDF is allocated strictly to projects that directly contribute to export enhancement.
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