ISLAMABAD: As the government, through tariff rationalization, has alreadyremoved various duties on 164 items, it also intends to remove customsduties on another 152 items in order to facilitate ‘made in Pakistan’products.
After the removal of additional customs duty and regulatory duty on 164items related to the textile sector, not manufactured in Pakistan, theTariff Policy Board (TPB) has initiated work on more items/tariff lines forremoval of import duties.
According to commerce ministry officials, during a meeting of TPB onThursday, which was chaired by Advisor to Prime Minister on Commerce andInvestment Abdul Razak Dawood, it was approved that TPB would further workon removal of additional customs duty on 152 tariff lines.
The meeting was attended by commerce secretary, the National TariffCommission chairperson, Federal Board of Revenue member (customsoperations), industries & production additional secretary and Board ofInvestment director.
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The adviser reiterated the importance given by the government to the ‘Makein Pakistan’ initiative, saying that in order to achieve this goal, importduties on 1,623 tariff lines pertaining to basic raw material andintermediate goods had been reduced to zero through the Finance Act, 2020.
