16 hours ago
- Business
- Business Recorder
PM Shehbaz directs for early finalization of national industrial policy
Prime Minister Muhammad Shehbaz Sharif on Thursday directed for early finalization of national industrial policy in consultation with all stakeholders for lasting solution of problems faced by industries and accelerating industrial growth, according to Radio Pakistan.
Chairing a high level meeting in Islamabad, he said development of domestic industries is inevitable for export-led economic growth.
Pakistan reveals National Tariff Policy draft, aims to eliminate RDs, ACDs in 5 years
The Prime Minister said equipping the industries with international standard manpower and technology is the government's top priority.
He said recent economic policies have been devised with the aim to give a boost to domestic industries.
He mentioned the tariff rationalization policy, and said it will promote investment in the country.
During the meeting, recommendations were presented for development of domestic industries. It was informed that the country's manufacturing sector will be revived through an effective industrial policy.
In a related development earlier, the federal government unveiled the draft for the National Tariff Policy (NTP) 2025–30 at the Regulatory Reforms Conference on Wednesday.
The conference, organised by the Board of Investment (BoI), aimed at advancing regulatory simplification and industrial competitiveness, bringing together federal ministers, diplomats, and private sector representatives for a strategic dialogue on Pakistan's economic direction.
'The National Tariff Policy 2025–30 is designed to create a predictable, transparent, and investment-friendly tariff structure,' said Rana Ihsaan Afzal, Coordinator to the Prime Minister on Commerce, read a statement released by the Ministry of Commerce.
The NTP 2025–30 outlines 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%).
