Pakistan PM Sharif Reviews National Tariff Policy 2025-30 to Accelerate Export-Led Economic Growth
Pakistani Prime Minister Shehbaz Sharif on Thursday (June 4) chaired a high-level meeting to review overall economic growth and the implementation of the National Tariff Policy 2025-30, reiterating that achieving export-led growth remains the government's foremost economic priority.
During the meeting, the prime minister emphasized the importance of an active, transparent, and efficient National Tariff Commission, describing it as essential for promoting industrial growth, trade expansion, and investment in Pakistan.
"Achieving export-oriented development goals is our top priority," the prime minister said, directing the National Tariff Commission to play a proactive role in facilitating investors and industrialists. He also called for modernization within the commission through the adoption of international best practices and the use of advanced technologies, including Information Technology and Artificial Intelligence.
Officials briefed the meeting on the implementation of the National Tariff Policy 2025-30, under which tariffs across various sectors will be reduced in phases to support export-driven economic growth and enhance Pakistan's competitiveness in global markets.
According to the briefing, duties on reefer containers and semi-trailers will be abolished to strengthen the logistics sector and improve trade efficiency. In the construction sector, customs duties on specialized vehicles and machinery are being reduced to encourage development activities and infrastructure growth.
The government also plans to provide relief to the pharmaceutical industry by eliminating customs duties on key raw materials, particularly those used in the production of cancer medicines, with the aim of reducing costs and improving access to essential healthcare products.
The meeting was attended by Deputy Prime Minister and Foreign Minister Isaq Dar, Minister for Law and Justice Azam Nazeer Tarar, Minister for Climate Change Musadik Malik, Minister for Economic Affairs Ahad Khan Cheema, Finance Minister Muhammad Aurangzeb, Petroleum Minister Ali Pervaiz Malik, Minister of State for Finance and Railways Bilal Azhar Kayani, Special Assistant to the Prime Minister Haroon Akhtar, and senior government officials.