Business

Govt unveils national tariff policy 2025–30 with focus on export-led growth

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Digital Desk

1 year ago

ISLAMABAD: The federal government on Wednesday unveiled the draft National Tariff Policy (NTP) 2025–30 during the National Regulatory Reforms Conference, designed to create a predictable, transparent, and investment-friendly tariff structure.

Coordinator to the Prime Minister on Commerce, Rana Ihsaan Afzal, presented the draft policy, which aims to establish a predictable and transparent tariff structure that supports innovation, employment generation, and economic growth.

The policy was introduced as part of the Board of Investment’s (BoI) broader agenda to enhance regulatory efficiency and improve the country’s business climate.

In his keynote address, Ihsaan Afzal underscored the government’s strong commitment to rationalizing Pakistan’s tariff regime, simplifying business processes, and fostering export-led growth.

He stated that by facilitating duty-free access to raw materials, phasing out Additional Customs Duties (ACDs) and Regulatory Duties (RDs), and supporting nascent and green industries, this policy paves the way for innovation, employment generation, and sustained economic growth.

The key points of the policy outline ambitious reform goals, including the phasing out of ACDs in four years, the elimination of RDs, and the 5th Schedule within five years.

It also proposes a simplified customs duty structure with four slabs—0%, 5%, 10%, and 15%—focused on reducing import costs, especially on raw materials and intermediate goods.

The policy aims to benefit key sectors including textiles, engineering, pharmaceuticals, and IT, while encouraging investment and reducing production costs across the board.

Rana Afzal highlighted that the implementation will begin with the reduction of tariffs on approximately 7,000 tariff lines, largely focused on raw materials and intermediate goods, yielding an estimated Rs. 200 billion in benefits to trade and industry.

“These reforms will enable Pakistan’s industries to scale, compete globally, and shift towards higher value-added exports,” the Coordinator to the Prime Minister on Commerce said.

The conference was also attended by Federal Minister for Industries and Production Haroon Akhtar, Federal Minister for the Board of Investment Qaiser Ahmed Sheikh, senior officials, diplomats, and leading figures from the private sector.

Participants lauded the government’s efforts to streamline regulation and modernize trade facilitation, calling the draft policy a significant step toward Pakistan’s long-term economic transformation.

Digital Desk