Pakistan plans to considerably reduce import rights over the next five years as part of its national pricing policy 2025-30 in order to stimulate industrial growth and exports thanks to a more competitive commercial regime.
Within the framework of the plan, which will be launched in the budget budget of 2025-2026, the country will reduce the number of customs of customs tasks from five to four, the maximum rate lowered to 15% compared to the current 20%.
The current 3% slab will be eliminated and reassigned to zero or 5%, while the 11% and 16% slabs will be revised to 10% and 15%, respectively.
According to a press release published by the Council Development Board on Saturday, additional customs tasks (ACD) will be deleted over four years, while regulatory tasks (RD) and the fifth annex of the Customs Act – covering equipment and industrial raw materials – will be deleted within five years.
The overhaul of the policy alignments with the directive of Prime Minister Shehbaz Sharif to continue the growth led by export by simplifying the tariff structure and by eliminating distortions that hinder industrial competitiveness, the press release said.
Industry stakeholders were invited to provide comments on the proposed reforms and to assess their probable impact on economic expansion and export performance.
One of the two online consultations chaired by senior officials from the Ministry of Industries and Production is scheduled for today (May 20).
