Export charge should be abolished, says PLGMEA - leatherbiz: Leading n Leatherbiz

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Export charge should be abolished, says PLGMEA

06/11/2013
Pakistan Leather Garments, Manufacturers & Exporters Association (PLGMEA) has urged the government to abolish the export development surcharge (EDS) from export proceeds.

Fawad Ijaz Khan, head of the PLGMEA, said in a statement that it was levied on exports as per the EDF Act 1998 and 0.25% is being deducted by banks from export proceeds and deposited in Federal Treasury Account.

He suggested the Ministry of Finance has not made the required payment to Ministry of Commerce and Rs19 billion ($180 million) of EDS liability has been pending since the end of June. He said EDS has no benefit for exporters and unless the  Ministry of Finance releases the payments, this levy should be abolished.




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