Assalamualaikum - Pakistan to lower tariffs on industrial inputs to help exporters
Assalamualaikum - Pakistan is planning to cut tariffs on industrial raw materials and intermediate goods to help local industries become more competitive and support exporters, Finance Minister Muhammad Aurangzeb said on Wednesday. He called this a central part of the government's tariff reform strategy.
The National Tariff Policy 2025–30, unveiled in June, aims to phase out extra customs duties, simplify tariff bands and reduce import costs for manufacturers so the export sector can grow and productivity can improve.
Speaking at the Karachi Chamber of Commerce and Industry, Aurangzeb said the immediate priority is lowering input costs for businesses that supply exports. “We decided first to reduce duties on industrial raw materials and intermediaries,” he said, noting the move is meant to assist exporters who need help.
Some business figures worry that the changes might harm local production of raw materials, but Aurangzeb suggested the policy could mark a turning point for Pakistan’s economy. “Some thought industry would be de-industrialized and we'd become only traders,” he said. “Others see this as a possible East Asia moment for Pakistan.”
He also stressed the government is willing to adjust the plan if needed: “If we have to tweak it, we will tweak it. No one has the final word on wisdom.” Aurangzeb said policymaking will be more consultative going forward, with industry, academics and think tanks involved year-round rather than just at budget time.
“We will make the budget together with you,” he added, saying his team will be available for consultations throughout the year to help move the country forward.
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