Draft tariff policy for 2025-30 unveiled
Listen to article
The Government of Pakistan unveiled the draft National Tariff Policy (NTP) 2025-30 during the National Regulatory Reforms Conference organised by the Board of Investment (BOI).
The conference, aimed at advancing regulatory simplification and industrial competitiveness, brought together federal ministers, diplomats and private sector representatives for strategic dialogue on Pakistan's economic direction.
Coordinator to the Prime Minister on Commerce Rana Ihsaan Afzal underscored the government's commitment to rationalising Pakistan's tariff regime, simplifying business processes and fostering an export-led growth.
"The National Tariff Policy 2025-30 is designed to create a predictable, transparent and investment-friendly tariff structure. By facilitating duty-free access to raw material, phasing out additional customs duties and regulatory duties, and supporting nascent and green industries, this policy paves the way for innovation, employment generation and sustained economic growth," he said.
The policy outlines ambitious reform goals, including the phasing out of additional customs duties over four years, elimination of regulatory duties and 5th Schedule within five years, and establishment of a simplified four-slab customs duty structure (0%, 5%, 10% and 15%). It aims to benefit key sectors including textile, engineering, pharmaceutical and IT while encouraging investment and reducing production costs across the board. Rana Afzal highlighted that implementation would begin with reduction in tariffs on around 7,000 tariff lines, largely focused on raw material and intermediate goods, yielding Rs200 billion in benefits to trade and industry.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
an hour ago
- Business Recorder
PIA's special flight evacuates 107 Pakistanis from Iran
KARACHI: Pakistan International Airlines (PIA) successfully completed its first special rescue flight, bringing home 107 Pakistani nationals who were stranded in Iran due to airspace restrictions. According to PIA spokesman, the special flight PK-9552 safely landed in Islamabad at 3:00 am on Wednesday. Due to the closure of Iranian airspace, the stranded Pakistani citizens were unable to fly directly from Iran. Instead, they traveled overland to Ashgabat, the capital of Turkmenistan, where the PIA aircraft picked them up for the final leg of their journey home. The evacuation operation required extensive diplomatic coordination, with Pakistani embassies in both Iran and Turkmenistan playing crucial roles in facilitating the safe passage of the stranded nationals, he said. The special flight was launched on direct instructions from the Government of Pakistan, demonstrating the country's commitment to protecting its citizens abroad during times of crisis. The returning passengers expressed their appreciation for the timely intervention by both the Pakistani government and PIA. They praised the efficient coordination that made their safe return possible despite the complex logistical challenges, he added. Copyright Business Recorder, 2025
Express Tribune
2 hours ago
- Express Tribune
Senate panel rejects tax on online businesses
The Senate Standing Committee on Finance reviewed the Finance Bill 2025 on Wednesday and recommended a zero-rated tax on the income of up to Rs1.2 million and rejected a proposal to impose tax on individuals doing small online businesses. During a meeting, chaired by its chairman Saleem Mandviwala, the committee approved the proposal to impose tax on the income of online academies and teachers but opposed the levy of tax on the income of the Islamabad Club. Federal Board of Revenue (FBR) officials informed the meeting that teachers were providing online digital education services, earning Rs20-30 million. They added that a new clause had been introduced in the Finance Bill to impose tax on those doing e-commerce business, using online marketplaces. All individuals providing services via the internet and electronic networks will be affected, FBR officials said. They added that the tax will also apply to music, audio and video streaming platforms, cloud services, online software application providers, telemedicine and e-learning services. The tax would also be imposed on online banking services, architectural design services, research and consultancy reports, accounting services and other online facilities in the form of digital files, the FBR officials stated. The committee rejected a proposal to tax individuals doing small online businesses. The FBR chairman said that those with an annual income of 1.2 million will have to pay Rs12,500 in taxes. Committee member Senator Shibli Faraz said that there should be no tax on the income of Rs600,000 to Rs1.2 million. FBR Chairman Rashid Langrial told the committee that it had been decided to collect tax from entertainment clubs, including the Islamabad Club. However, the committee chair opposed the move. Langrial said that the common man did not benefit from this club, as it was the luxury of 300 people. The FBR officials said that there was a proposal to impose restrictions on the purchase of property and vehicles by non-filers. They added that a limit of 130% of the income had been set for the purchase of property by the non-filers. Senator Mohsin Aziz said that the limit of 130% for the purchase of property by non-filers should be increased. The committee recommended increasing the limit to 500%. Finance Minister Muhammad Aurangzeb said that steps were being taken to bring non-filers into the tax net.
Business Recorder
3 hours ago
- Business Recorder
National Tariff Policy draft 2025-30 unveiled
ISLAMABAD: The Government of Pakistan unveiled the draft National Tariff Policy (NTP) 2025-30 during the National Regulatory Reforms Conference organised by the Board of Investment (BoI). The conference, aimed at advancing regulatory simplification and industrial competitiveness, brought together federal ministers, diplomats, and private sector representatives for a strategic dialogue on Pakistan's economic direction. Rana Ihsaan Afzal, Coordinator to the Prime Minister on Commerce, represented the Ministry of Commerce and delivered the keynote address on the minister's behalf. In his speech, Afzal underscored the government's strong commitment to rationalising Pakistan's tariff regime, simplifying business processes, and fostering export-led growth. He stated, 'The National Tariff Policy 2025-30 is designed to create a predictable, transparent, and investment-friendly tariff structure. By facilitating duty-free access to raw materials, phasing out Additional Customs Duties (ACDs) and Regulatory Duties (RDs), and supporting nascent and green industries, this policy paves the way for innovation, employment generation, and sustained economic growth.' The NTP 2025-30 outlined ambitious reform goals, including the phasing out of ACDs in four years, elimination of RDs and the 5th Schedule within five years, and the establishment of a simplified four-slab Customs Duty structure (0%, 5%, 10%, 15%). The policy aims to benefit key sectors including textiles, engineering, pharmaceuticals, and IT, while encouraging investment and reducing production costs across the board. Rana Afzal highlighted that the implementation will begin with the reduction of tariffs on approximately 7,000 tariff lines, largely focused on raw materials and intermediate goods, yielding an estimated Rs 200 billion in benefits to trade and industry. 'These reforms will enable Pakistan's industries to scale, compete globally, and shift towards higher value-added exports,' he said. 'With these changes, we anticipate not just stronger GDP growth, but also increased employment, improved industrial productivity, and enhanced investor confidence.' The conference was also attended by Federal Minister for the Board of Investment Qaiser Ahmed Sheikh, Special Assistant to Prime Minister on Industries and Production Haroon Akhtar Khan, senior officials, diplomats, and leading figures from the private sector. Participants lauded the government's efforts to streamline regulation and modernise trade facilitation, calling the draft policy a significant step toward Pakistan's long-term economic transformation. Copyright Business Recorder, 2025
