PM Orders Immediate Reforms in Export Development Fund to Boost Exports

PAKISTAN

Prime Minister Shehbaz Sharif on Monday directed the concerned authorities to initiate swift and comprehensive reforms in the Export Development Fund (EDF) to accelerate the country’s export growth.

While chairing a meeting of the Working Group on the Export Sector, the prime minister ordered a third-party audit of the EDF in accordance with international standards. He also instructed the immediate removal of the Export Development Surcharge on exports, terming it essential for facilitating exporters.

The prime minister emphasized the appointment of a competent chairman to ensure effective and transparent utilization of the fund. “The EDF must solely be used for enhancing the country’s exports, carrying out relevant research and development, strengthening the skill set of the export sector workforce, providing modern training, and equipping exporters with facilities that meet global benchmarks,” he said.

He further directed that all schemes and programmes operating under the EDF be subjected to independent third-party audits to ensure transparency and efficiency.

Highlighting the role of the Trade Development Authority of Pakistan (TDAP), the prime minister underscored the need to fully leverage the institution for promoting Pakistan’s products in international markets. He warned that any irrelevant or unjustified use of EDF resources would not be tolerated.

The prime minister reiterated that promoting and showcasing Pakistani products globally was the federal government’s responsibility, and assured that maximum facilitation for exporters remained among the government’s top priorities.

During the meeting, the sub-working group formed to enhance the country’s exports presented its set of recommendations. Appreciating the group’s efforts, the prime minister instructed relevant departments to take immediate action while giving due consideration to the proposals.

The meeting was attended by Minister for Planning and Development Ahsan Iqbal, Finance Minister Muhammad Aurangzeb, Commerce Minister Jam Kamal, Minister for Climate Change Dr. Musadik Malik, Petroleum Minister Ali Pervaiz Malik, Minister of State for Finance Bilal Azhar Kayani, the SIFC chairman, and other senior officials.

– APP/ERMD

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