ISLAMABAD, Nov 24 (APP): Prime Minister Shehbaz Sharif on Monday directed the relevant authorities to take immediate reform measures in the Export Development Fund (EDF) to help boost the country’s exports.
Chairing a meeting of the Working Group on the Export Sector, the prime minister ordered a third-party audit of the EDF in line with international standards and directed the immediate abolition of the Export Development Surcharge on exports.
He said a suitable chairman should be appointed to ensure the best possible utilization of the fund.
“The EDF must only be used for enhancing the country’s exports, relevant research and development, skill development of the export sector workforce, training, and the provision of modern facilities of international standards,” the prime minister emphasized.
He also directed that all schemes and programmes being run under the EDF undergo third-party audits.
The prime minister stressed the need to utilize the positive role of the Trade Development Authority of Pakistan (TDAP) to promote exports, adding that irrelevant or illogical use of the fund would not be tolerated.
He said the federal government was responsible for promoting and showcasing Pakistani products across global markets, adding that providing maximum facilitation to exporters was among the government’s top priorities.
Following detailed deliberations on the export sector, the sub-working group tasked with enhancing exports presented its recommendations. The prime minister appreciated the group’s work and instructed relevant departments to take immediate steps while considering the recommendations positively.
The meeting was attended by Minister for Planning and Development Ahsan Iqbal, Minister for Finance Muhammad Aurangzeb, Minister for Commerce Jam Kamal, Minister for Climate Change Dr Musadik Malik, Minister for Petroleum Ali Pervaiz Malik, Minister of State for Finance Bilal Azhar Kayani, the SIFC chairman and other senior officials.