PM Reviews Tariff Reforms To Boost Growth

During a high-level review of economic performance and implementation of the National Tariff Policy 2025-30, Prime Minister Shehbaz Sharif was informed that customs duty concessions are being introduced across several sectors to stimulate industrial activity, strengthen supply chains, and support export-oriented economic growth.

According to the briefing, customs duties on specialised machinery and vehicles used in the construction industry will be reduced to encourage investment and expansion within the sector. In addition, customs duties on reefer containers and semi-trailers will be eliminated to facilitate logistics operations, improve transportation efficiency, and strengthen the country’s supply chain infrastructure.

Officials also informed the Prime Minister that, as part of a significant relief package for the pharmaceutical sector, customs duties on key raw materials—particularly inputs used in the manufacturing of cancer medicines—will be abolished. The measure is intended to promote domestic pharmaceutical production, reduce manufacturing costs, and improve access to essential healthcare products.

The Prime Minister reviewed progress on implementation of the National Tariff Policy 2025-30 and directed relevant authorities to ensure its effective execution while accelerating the modernisation of tariff-related institutions to support investment, trade, and industrial development.

Prime Minister Sharif reiterated that achieving export-led economic growth remains one of the government’s principal policy objectives and emphasised the importance of tariff reforms in enhancing Pakistan’s competitiveness in international markets.

During the meeting, officials explained that tariff rates across various sectors would be gradually reduced under the policy framework to encourage exports, lower production costs, and create a more competitive business environment.

The Prime Minister further stressed that a transparent, efficient, and proactive National Tariff Commission is critical for promoting industrial development, attracting investment, and facilitating trade.

He directed the commission to actively support investors and industrial stakeholders while pursuing institutional reforms aligned with international best practices.

The Prime Minister also instructed the commission to adopt modern technological tools, including information technology systems and artificial intelligence applications, to improve operational efficiency, transparency, and service delivery.

He noted that comprehensive tariff reforms and institutional modernisation would play a vital role in boosting exports, attracting both domestic and foreign investment, and supporting sustainable long-term economic growth.

The meeting was attended by 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 Bilal Azhar Kayani, Special Assistant to the Prime Minister Haroon Akhtar, and other senior government officials.