PTI government unveils new initiative to promote “Made in Pakistan”
ISLAMABAD: As the government, through tariff rationalization, has already removed various duties on 164 items, it also intends to remove customs duties on another 152 items in order to facilitate ‘made in Pakistan’ products.
After the removal of additional customs duty and regulatory duty on 164 items related to the textile sector, not manufactured in Pakistan, the Tariff Policy Board (TPB) has initiated work on more items/tariff lines for removal of import duties.
According to commerce ministry officials, during a meeting of TPB on Thursday, which was chaired by Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood, it was approved that TPB would further work on removal of additional customs duty on 152 tariff lines.
The meeting was attended by commerce secretary, the National Tariff Commission chairperson, Federal Board of Revenue member (customs operations), industries & production additional secretary and Board of Investment director.
The adviser reiterated the importance given by the government to the ‘Make in Pakistan’ initiative, saying that in order to achieve this goal, import duties on 1,623 tariff lines pertaining to basic raw material and intermediate goods had been reduced to zero through the Finance Act, 2020.