FAISALABAD: Faisalabad Chamber of Commerce & Industry (FCCI) President Farooq Yousuf Sheikh has warmly welcomed the Government of Pakistan’s decision to formally abolish the Export Development Surcharge (EDS) through an official notification.
In a statement, he said that this long-awaited step reflects the government’s commitment to reducing the cost of doing business and uplifting Pakistan’s export sector.
He explained that exporters had been continuously highlighting the negative impact of additional surcharges on their competitiveness, especially in the face of rising global competition, high input costs, and fluctuating international market conditions. “The abolition of this surcharge will therefore provide immediate financial relief and enable exporters to focus more on value addition, product diversification, and expansion into new markets”, he added.
The FCCI President further noted that this measure will help improve cash flow for export-oriented industries particularly SMEs, which is crucial for maintaining production cycles and fulfilling international orders on time.
He said that the policy shift is expected to contribute to an increase in Pakistan’s overall export volume, helping the country earn more foreign exchange and strengthen its economic stability in addition to minimizing the trade deficit.
He also appreciated the government’s consultative approach, acknowledging that the decision was made after taking inputs from trade bodies and industry stakeholders.
Such collaboration, he said, builds confidence between the business community and policymakers.
Farooq Yousuf Sheikh expressed hope that the government will continue introducing similar business-friendly reforms, remove other bottlenecks affecting exporters, and ensure a more conducive environment for industrial growth and international trade.
