KARACHI: Pakistan Business Cou­ncil (PBC) has warned that revoking the Export Facilitation Scheme (EFS) would be a catastrophic mistake which would cripple the export industry, stifle economic progress and leave Pakistan vulnerable to growing trade imbalances.

The EFS is not just a policy — it is the backbone of our value-added export sector. Instead of revoking it due to enforcement failures, the council said the government must........

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