The Ministry of Commerce has asked Tariff Policy Center to work out tariff justification guide for lessening the weight of excessive protection accessible to a couple of areas to give the advantage to end consumers.
A high-level meeting led by Commerce Advisor Abdul Razak Dawood has requested that the TPC set up a three-year plan for chosen areas — iron and steel, plastics, building, pharmaceuticals, synthetic compounds and material.
An official declaration issued here said the adviserdirected TPC of National Tariff Commission to conductdetailed studies and propose a three-year guide for these areas. To define the tax plan, the NTC will initially recognize the total worth chains alongside possible partners, at that point gather information from the essential and auxiliary sources and affirm them from chambers and relationship just as direct formal reviews.
The proposed three-year plan will at that point be submitted to Tariff Policy Board for endorsement and consideration in the yearly annual budget. Dawood said that tariff rationalization is crucial for export-ledindustrialization in Pakistan and conversations should begin with the significant partners from one month from now to build up the guide in such manner. The TPB has executed a decrease of obligations on around 2,000 tax lines, comprising basic raw materials and intermediate goods.
