PM Shehbaz to Unveil Five-Year Tariff Reform Plan to Boost Industrial Competitiveness

Prime Minister Shehbaz Sharif is set to announce a comprehensive five-year tariff reform policy aimed at enhancing the competitiveness of Pakistan’s industries. The plan includes significant reductions in customs duties, additional customs duties, and regulatory duties on raw materials and semi-finished goods. It also proposes a phased decrease in overall tariff protections for select industries. A high-powered steering committee has been established to implement the National Tariff Policy, monitor its effectiveness, and attract foreign investment. Additionally, the government has reduced industrial electricity prices by over 30% in the past year, plans to privatize power distribution companies, and is focusing on renewable energy initiatives, including transitioning 27,000 agricultural tube wells in Balochistan to solar power within the next few months.