ISLAMABAD: Commerce Division, which is currently working on the formulation of Strategic Trade Policy Framework 2018-23 in consultation with the stakeholders, has decided to rationalise tariff on 515 tariff lines after consultation with stockholders for increasing the competitiveness of the export sector.
Meanwhile, one of the key enablers identified for increasing the competitiveness of the export sector is the rationalisation of tariffs on critical inputs of the export-oriented industry.
Commerce Division and National Tariff Commission (NTC) have undertaken an exercise to identify the inputs/raw materials of the export-oriented products and the tariff structure of these inputs. The objective is to rationalise the tariffs in order to make exports more competitive and facilitate the participation of local manufacturers, including SMEs, in global and regional value chains.
Commerce Division and NTC have identified tariff lines which are being considered for revision of tariff in the Budget 2018-19, to bring positive improvement in the tariff structure. While a comprehensive tariff policy for industrial expansion including the medium and long-term measures is being developed, in the short term the immediate rationalisation of the tariff is being considered on 515 tariff lines.
The proposed tariff rationalisation will improve the competitiveness of the leading export sectors including textiles, apparel, leather, spices, chemical products, plastics and articles thereof, iron and steel.
The list of the tariff lines along with the current and proposed tariff structure has been placed at the Commerce Division’s website (www.commerce.gov.pk). The feedback on the proposed tariff structure has been invited from all the stakeholders by March 28, 2018.
