Prime Minister Shehbaz Sharif convened a high-level meeting on Thursday to assess the progress of the National Tariff Policy 2025-30 and the broader economic growth strategy of the country. He reaffirmed that prioritizing export-led growth remains central to the government’s agenda.
During the session, the prime minister highlighted the critical role of an active and transparent National Tariff Commission in fostering industry, trade, and investment. He urged the commission to adopt a proactive stance in assisting investors and industrialists, calling for institutional reforms aligned with global best practices.
In a significant development, the premier stressed the importance of modernizing the commission by integrating advanced technologies such as information technology and artificial intelligence to enhance operational efficiency and transparency.
Officials provided an update on the National Tariff Policy 2025-30, outlining phased tariff reductions across various sectors aimed at boosting export-oriented economic growth. Notably, duties on reefer containers and semi-trailers will be eliminated to promote the logistics sector and streamline supply chains. Additionally, customs duties on specialized vehicles and machinery will be reduced to support expansion in the construction industry.
These initiatives are designed to increase competitiveness, lower business expenses, and create a more attractive environment for investment and industrial development.
Moreover, the meeting addressed relief measures for the pharmaceutical sector. Customs duties on raw materials essential for producing cancer medicines and other pharmaceuticals will be removed under the new policy framework. This step is expected to reduce production costs, improve access to vital medicines, and strengthen the domestic pharmaceutical industry.
The meeting was attended by key government figures including Deputy Prime Minister and Foreign Minister Ishaq Dar, Law Minister Azam Nazeer Tarar, Climate Change Minister Musadik Malik, Economic Affairs Minister 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, along with other senior officials.
