ISLAMABAD (HRNW)- In a major move to stimulate national economic activity and boost trade competitiveness, the federal government has decided to significantly reduce import duties under its newly structured 5-year National Tariff Policy 2025-30.<\/p>\n
According to official and parliamentary sources, the policy aims to aggressively bring down the country’s average tariff rate from 20.19 percent to 9.70 percent in phases. While the sweeping reforms are projected to cause a temporary revenue loss of Rs. 143 billion, officials expect the lower import costs to modernize domestic industries and align Pakistan’s trade framework with global standards.<\/p>\n
Key elements of the proposed 5-year tariff roadmap include:<\/p>\n
Customs Duty: Proposed to be capped at a maximum of 15 percent within the next five years.<\/p>\n<\/li>\n
Additional Customs Duty: Planned to be gradually phased out entirely from its current 6 percent down to zero.<\/p>\n<\/li>\n
Regulatory Duty: Recommended to be capped at a maximum of 20 percent before being completely eliminated in stages.<\/p>\n<\/li>\n
Automotive Sector: The Engineering Development Board has recommended a uniform tariff structure applied equally to both locally manufactured and imported vehicles.<\/p>\n<\/li>\n<\/ul>\n
The Ministry intends for these reforms to level the playing field for local industries and international markets alike, ensuring greater market competition and overall transparency.<\/p>\n
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