Prime Minister Shehbaz Sharif has directed the full implementation of Pakistan’s National Tariff Policy, describing it as a “revolutionary step” to enhance domestic industrial production and strengthen the country’s position in global markets. The announcement was made during a review meeting in Islamabad focused on recommendations from the Sub-Working Group on reforms in the customs, tariff, and trade sector.
The Prime Minister emphasized that the policy aims to facilitate domestic industries, aligning exports and imports with Pakistan’s broader economic growth objectives. He highlighted that the policy will make businesses more competitive internationally and instructed relevant ministries to provide all possible support to businesses and investors.
During the meeting, industrialist Muhammad Ali Tabba and other representatives from the Sub-Working Group presented sector-specific recommendations on customs, taxation, and trade reforms. PM Shehbaz stressed that such recommendations should be data-driven to effectively boost industrial production and trade. He also called for measures to reduce production costs and closely monitor the collection of customs duties on bilateral and transit trade products.
The Prime Minister further pointed out that the Export Development Fund (EDF) has been underutilized for research and training, which is essential for improving economic and industrial productivity. He stated that sustainable economic growth depends on increased investment, innovation, and productivity.
The meeting was attended by key federal ministers, including Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, Climate Change Minister Dr. Mosaddiq Malik, Power Minister Sardar Owais Ahmed Leghari, Economic Affairs and Planning Minister Ahad Khan Cheema, and Petroleum Minister Ali Pervez Malik, along with the Chairman SIFC, representatives of domestic industries, and other relevant officials.
