Faisalabad Chamber of Commerce & Industry (FCCI) President Farooq Yousuf Sheikh has warmly welcomed the Government of Pakistan\u2019s decision to formally abolish the Export Development Surcharge (EDS) through an official notification.
\nIn a statement here on Wednesday, he said that this long-awaited step reflects the government\u2019s commitment to reducing the cost of doing business and uplifting Pakistan\u2019s export sector.
\nHe 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. \u201cThe 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\u201d, he added.
\nThe 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.
\nHe said that the policy shift is expected to contribute to an increase in Pakistan\u2019s overall export volume, helping the country earn more foreign exchange and strengthen its economic stability in addition to minimizing the trade deficit.
\nHe also appreciated the government\u2019s consultative approach, acknowledging that the decision was made after taking inputs from trade bodies and industry stakeholders.
\nSuch collaboration, he said, builds confidence between the business community and policymakers.
\nFarooq 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
Faisalabad Chamber of Commerce & Industry (FCCI) President Farooq Yousuf Sheikh has warmly welcomed the Government of Pakistan\u2019s decision to formally abolish the Export Development Surcharge (EDS) through an official notification. In a statement here on Wednesday, he said that this long-awaited step reflects the government\u2019s commitment to reducing the cost of doing business and …<\/p>\n","protected":false},"author":4,"featured_media":61658,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-90546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/90546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=90546"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/90546\/revisions"}],"predecessor-version":[{"id":90562,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/90546\/revisions\/90562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/61658"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=90546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=90546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=90546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}