Following the federal government’s decision to eliminate the Export Development Surcharge, a prominent industrial leader is calling for transparent utilization of the Rs 50 billion previously collected and demanding representation for industry associations in the committee overseeing these funds.
Faisal Moiz Khan, President of the North Karachi Association of Trade and Industry (NKATI), today lauded the government’s move as a positive step that will significantly boost the nation’s exports.
He described the abolition of the surcharge as a direct result of ongoing communication between the industrial sector and top national leadership, including Prime Minister Mian Shehbaz Sharif and Field Marshal Syed Asim Munir.
Khan articulated that ending the levy provides substantial relief to exporters, enhancing their ability to sell products at more competitive prices in the global marketplace.
The NKATI president urged that the collected Rs 50 billion be spent on improving the deteriorating infrastructure within industrial zones. He specifically requested that representatives from industrial area associations be included in the committee managing the fund, emphasizing that expenditure should be based on their consultation.
Looking ahead, Khan advised the government to refrain from imposing similar taxes on the export sector in the future and to improve the overall business environment by addressing the energy crisis and reducing the tax burden.