AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: The President of the North Karachi Association of Trade & Industry (NKATI), Faisal Moiz Khan, has praised the federal government’s recent decision to eliminate the Export Development Surcharge on export industries. This move is expected to enhance the competitiveness of Pakistani exports by reducing costs for exporters.
Khan emphasized the importance of maintaining a supportive environment for the export sector. He recommended that the government avoid imposing additional taxes and duties on this crucial economic segment. Enhancing the business climate through measures such as addressing the energy crisis and alleviating the tax burden was also highlighted.
The NKATI president underscored that the Rs 50 billion collected under the surcharge should be utilized transparently to address infrastructure issues affecting the export sector. He pointed out the need for improvements in industrial areas, which would benefit from the abolition of the surcharge.
Khan expressed optimism that the removal of the Export Development Surcharge would offer substantial relief to exporters, allowing them to offer their products at more competitive prices globally. This change is seen as a significant step towards boosting the country’s export potential.
In discussions with Prime Minister Mian Shehbaz Sharif and Field Marshal Syed Asim Munir, the industrial sector has consistently raised these concerns. Khan urged the government to involve representatives from industrial area associations in decision-making processes related to the utilization of the collected surcharge funds, ensuring the money is directed toward improving industrial infrastructure.