PPP-led government collected Rs 10.8 billion EDS in three years

Pakistan Peoples Party (PPP) led coalition government collected Rs 10.8 billion on account of Export Development Surcharge (EDS) during 2011-12 to 2012-13 and released only 18.5 percent to the Ministry of Commerce while the incumbent government collected Rs 17.4 billion and released 15 percent for promotion of exports. The federal government has been collecting 0.25 percent EDS on almost 85 percent exports, which is deposited in a dedicated account of Export Development Fund (EDF) in the Finance Ministry. The Fund was established for the development of export-oriented sectors with 55 percent contribution by the textile sector in the EDF.
Official sources revealed to Business Recorder that Finance Ministry collected Rs 10.8 billion during 2011-12 to Rs 12-13, ie, during the Pakistan Peoples Party (PPP) tenure under the head of EDS. During this period Rs 2.03 billion was released to the Commerce Ministry for promotion of exports. Textile Ministry received around Rs 500 million during the last two years of the PPP government.
The incumbent government collected Rs 17.4 billion under the head of EDS during the last three years (2013-14 to 2015-16) and released Rs 2.6 billion to the Commerce Ministry whereas the Textile Ministry received around Rs 300 million only. The government earmarked Rs 150 million under Public Sector Development Programme (PSDP) 2016-17 for a single project "one thousand industrial stitching units" of Textile Ministry, besides commitment of Rs 6 billion for implementation of textile policy (2014-19), but sources revealed that there have been no disbursements under these heads.