Ministry proposes 20% regulatory duty on LED products to protect local industry

The Ministry of Industries and Production has recommended imposing a 20% regulatory duty on light-emitting diode (LED) lighting products to safeguard the growing local industry. 

This proposal was discussed during a high-level meeting chaired by Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan.

The meeting highlighted that the imposition of this duty aims to protect local manufacturers, as the domestic industry is currently unable to meet local demand despite having significant export potential. It was noted that in recent years, the local industry has surpassed imported LED products in terms of quality and affordability.

The meeting also addressed the budget proposals for the upcoming fiscal year, focusing on industrial sector matters. Secretary of the Ministry of Industries and Production Saif Anjum, along with representatives from the Engineering Development Board (EDB) and the Small and Medium Enterprises Development Authority (SMEDA), attended the session.

During the meeting, participants discussed the promotion of local manufacturing, raw material imports and exports, and the structure of Customs Duties (CD), Regulatory Duties (RD), and Additional Customs Duties (ACD).

Haroon Akhtar Khan emphasised the need for tax reforms to improve the industrial sector and proposed the introduction of a super tax to align Pakistan’s corporate tax structure with regional standards. 

He also stressed creating a business-friendly environment to attract investment and support small and medium enterprises (SMEs).

The SAPM directed relevant departments to identify and remove barriers to industrial growth to ensure sustainable economic progress in the country.