Prime Minister Shehbaz Sharif on Friday chaired a high-level meeting on the National Tariff Policy, during which he directed a phased elimination of additional customs duties and regulatory duties over the next four to five years.
The government has also decided to cap the maximum customs duty at 15 percent. Currently, some items face duties exceeding 100 percent.
According to details, the number of customs duty slabs will be reduced to just four, which is expected to significantly simplify import-related legal complexities. The reforms aim to promote exports and attract investment by lowering import tariffs.
Prime Minister Shehbaz also announced the formation of an implementation committee to ensure timely execution of the policy changes.
“The improvement of Pakistan’s economy is the government’s top priority,” the prime minister said. “We will leave no stone unturned to build a strong economy and eliminate inflation in a sustainable manner.”
The move is part of broader efforts to stimulate economic growth, improve industrial competitiveness, and ensure long-term price stability across the country.
