Prime Minister Muhammad Shehbaz Sharif today directed the immediate abolition of the Export Development Surcharge imposed on domestic exports, marking a significant policy shift aimed at bolstering the nation”s trade performance.

The directives were issued as the premier presided over a review meeting in the capital, which focused on recommendations from a sub-working group established to increase domestic xports.

In a related move, the Prime Minister also ordered a comprehensive review of the Trade Development Authority of Pakistan, with the goal of reforming and completely revamping the authority.

Further measures to ensure transparency and proper resource allocation include a special directive for a third-party audit of the Export Development Fund. The audit, to be conducted in accordance with international standards, will cover the fund”s activities over the past five years.

Shehbaz Sharif emphasized that the fund must be strategically utilized for enhancing domestic exports, supporting associated research and development, providing skill training for the sector”s workforce, and establishing world-class facilities. He issued a stern warning that any irrelevant or unjustified use of the fund would not be tolerated.

To ensure the optimal use of the fund”s available resources, the Prime Minister also instructed that a competent chairman from the private sector be appointed to lead the body.

The premier reiterated the government”s commitment to promote and market Pakistan”s export products globally, adding that providing maximum facilitation to industrialists remains one of his administration”s top priorities.