Govt collected Rs 28240 mln as Export Development Surcharge in 5 years

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ISLAMABAD, Jan 13 (APP): The Senate was informed Friday that the federal

government had collected Rs 28240 million during last five financial years as Export Development Surcharge.
Answering a question during the Question Hour Minister for Law and
Justice Zahid Hamid informed the House that out of the stated amount Rs 5291 million were collected in 2011-12, Rs 5599 million during 2012-13, Rs 6119.22 million during 2013-14, Rs 5865.88 million in 2014-15 and Rs 5365.62 million were collected during 2015-16 as Export Development Surcharge (EDS).
Explaining to the House, the minister said, the Surcharge was levied on
exports at the rate of 0.25 percent of the exports vide section 11 of Finance Act 1991 and the same is collected at present.
He stated that collection of EDS was entrusted to the State Bank of
Pakistan which authorized all scheduled banks to deduct the EDS upon realization of export proceeds as per a directive of March 2003.
The minister further explained that the rate of levy of Export
Development Surcharge had remained unchanged during the last five years.
Answering a supplementary question, the minister said, Rs 4638.431
million were transferred to Export Development Fund by the government during last five financial years.
Giving details, the minister said, Rs 1279.810 million were transferred
to Export Development Fund during years 2011-12, Rs 752.614 million in year 2012-13, Rs 845.495 million during 2013-14, Rs 479.134 million during 2014-15 and Rs 1281.378 million were transferred to Export Development Fund by the federal government during year 2015-16.