Sustained tariff reforms: Aurangzeb underscores significance
The meeting was attended by Minister for Commerce Jam Kamal Khan, Minister for Petroleum Ali Pervaiz Malik, Governor State Bank of Pakistan and senior officials from the Ministry of Finance and other relevant ministries, divisions and organisations.
The finance minister underscored the significance of sustained tariff reforms as a cornerstone of Pakistan's trade policy. He highlighted that the National Tariff Policy represents a five-year roadmap toward liberalising trade, fostering export-led growth, and enhancing industrial competitiveness.
Pakistan prepared for regional fallout, optimistic on US tariff talks: Aurangzeb
Aurangzeb emphasised that the Steering Committee, constituted by the prime minister, has been entrusted with the critical task of continuously monitoring implementation progress, state of forex reserves, and guiding the transition of domestic industry during this period of reform.
During the meeting, the National Tariff Commission (NTC), operating under the Ministry of Commerce, delivered a detailed presentation on its mandate, core functions, and recent performance. The Commission outlined its pivotal role in safeguarding domestic industry through rational tariff structuring and trade remedy actions against unfair trade practices, including dumping, subsidised imports, and harmful import surges.
Participants were also apprised of the NTC's ongoing efforts to bolster institutional capacity. These include organisational reforms, targeted technical training, automation of internal processes, the proposed establishment of a dedicated facilitation centre for exporters, and initiatives to enhance legal and analytical capabilities to strengthen service delivery.
The finance minister acknowledged the valuable contributions of the NTC and urged the commission to maintain its focus on ensuring a level playing field for local producers.
He extended his support for addressing the commission's resource challenges and emphasised the importance of reinforcing Pakistan's anti-dumping framework. However, he advised that rather than expanding in size, the NTC should strive to become a lean, responsive, and fit-for-purpose organisation aligned with international best practices and compliant with the rules of the World Trade Organisation (WTO).
The meeting concluded with a shared resolve among participants to continue working in close coordination for the successful implementation of the National Tariff Policy, thereby, reinforcing Pakistan's trade competitiveness and industrial development.
Copyright Business Recorder, 2025
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