Pakistan has abolished import duties on 41 per cent of industrial raw materials—more than 1,600 tariff lines—and is working on a three-year plan to rationalise tariffs, according to adviser to prime minister on commerce and investment Razak Dawood, who recently said the commerce ministry is also working on making the process of getting refunds easier for exporters.
Dawood said this while meeting officials of the Lahore Chamber of Commerce and Industry.Pakistan has abolished import duties on 41 per cent of industrial raw materials-more than 1,600 tariff lines-and is working on a three-year plan to rationalise tariffs, according to adviser to prime minister on commerce and investment Razak Dawood, who said the commerce ministry is also working on making the process of getting refunds easier for exporters.#
The adviser emphasised on the need to shift from low value-added products to high-end manufacturing and moving from import to strengthen the manufacturing sector, as per Pakistani media reports.
Meanwhile, National Tariff Commission (NTC) chairperson Robina Ather assured the All Pakistan Textile Mills Association’s (APTMA) Punjab unit of rationalisation of tariffs on all industrial inputs. The government assigned NTC the task of rationalising tariff in consultation with all stakeholders.
The Federal Board of Revenue (FBR) is working on it, Ather told APTMA Punjab chairman Adil Bashir. She said the government would consider the demands and proposals of APTMA on the issue.
The meeting was also informed that the government is considering a lease policy to bring down cost of lands in special economic zones.
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