Govt to cut customs duties on specialised machinery, abolish levy on reefer containers

During a high-level review meeting on overall economic growth and the implementation of the National Tariff Policy 2025-30, Prime Minister Shehbaz Sharif was briefed that customs duties on specialised vehicles and machinery were being reduced to encourage growth in the construction sector, while duties on reefer containers and semi-trailers would be abolished to promote the logistics sector and improve supply chain efficiency.

In a major relief measure for the pharmaceutical industry, customs duties on key raw materials, particularly those used in the production of cancer medicines, will be eliminated to support local manufacturing and improve access to essential medicines.

Prime Minister Shehbaz Sharif on Thursday reviewed the overall economic growth and the implementation of the National Tariff Policy 2025-30. He directed the authorities concerned to ensure the effective implementation of the National Tariff Policy and modernise tariff-related institutions to facilitate investment, trade and industrial development.

The PM said achieving export-oriented development targets remained the government’s foremost priority, according to a Prime Minister’s Office news release.

During the meeting, officials briefed the prime minister on the implementation framework of the National Tariff Policy 2025-30.

The briefing highlighted that tariffs across various sectors would be reduced gradually under the policy to support export-driven economic growth and enhance Pakistan’s competitiveness in international markets.

Prime Minister Sharif emphasised that an active and transparent National Tariff Commission was essential for promoting industry, trade and investment in the country.

He instructed the commission to play a proactive role in facilitating investors and industrialists and called for institutional reforms based on international best practices.

The prime minister also directed the commission to adopt modern technologies, including information technology and artificial intelligence, to improve efficiency, transparency and service delivery.

He reiterated that tariff reforms and institutional modernisation would play a key role in enhancing exports, attracting investment and sustaining 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 for Finance and Railways Bilal Azhar Kayani, Special Assistant to the Prime Minister Haroon Akhtar and senior government officials.