ISLAMABAD: The Prime Minister, Shehbaz Sharif, has constituted a steering committee to implement the National Tariff Policy, which aims to bolster the export potential of Pakistan while reviving industries that have been adversely affected.
The committee was formed with a notification issued by the Ministry of Commerce, announcing Federal Minister for Finance Muhammad Aurangzeb as its chairman.
Apart from the Ministers for Commerce, Petroleum, and Food Security, the committee will also include the Minister of State for Railways, the Special Secretary of the Prime Minister‘s Office, and the Secretary for Industries and Production.
Dr.Manzoor Ahmad, Rubina Athar, and Aijaz Nabi are also members of the committee, while the Secretary of Commerce will act as its secretary.
The Ministry of Commerce shall provide secretariat support to facilitate the committee‘s work. The committee shall prepare proposals to boost exports through the tariff policy, assess the influence of the tariff policy on a range of industries, and recommend any restorations on sectors affected by tariffs.
The development follows Prime Minister Shehbaz Sharif‘s announcement concerning the major tariff reforms, stating that the maximum customs duty imposed will be 15% whilst additional customs/revenue duties will be abolished over the next 4–5 years.
