Tariff Reduction Of Some Imported Products In Pakistan

Pakistan's business Chronicle reported on May 7 that the government will reduce tariffs on textiles, pharmaceuticals, chemicals, dairy products, food, footwear and engineering raw materials in the federal budget for the next fiscal year.

Daoud said that Pakistan's Ministry of Commerce has been advocating "made in Pakistan", encouraging and supporting the development of export-oriented enterprises, and the budget of the fiscal year starting from 2019 is committed to reducing the cost of imported raw materials. He stressed that Pakistan needs long-term persistence and unremitting efforts, objectively and fairly judge the industries that need to be supported and developed, and adjust the existing tariff policies, so as to truly improve the competitiveness of export-oriented enterprises.

At present, Pakistan's strategic trade policy development framework for 2021-2025 (STPF) submitted by the Ministry of Commerce has been approved by the Economic Coordination Committee (ECC) of the cabinet of Pakistan. At present, the Ministry of commerce is formulating relevant development strategies for different industries, such as fruits and vegetables, engineering, poultry and rice.