According to Pakistan’s “Business Chronicle” report on May 7, recently, Dawood, the business and investment adviser to the Prime Minister of Pakistan, said that the government will reduce textiles, Customs duties on pharmaceuticals, chemicals, dairy products, food, footwear and engineering raw materials.
Daoud said that Pakistan’s Ministry of Commerce has always advocated “Made in Pakistan” and encouraged and supported the development of export-oriented enterprises. The fiscal year budget starting from 2019 has been dedicated to To reduce the cost of imported raw materials. He emphasized that Pakistan needs long-term persistence and unremitting efforts, objective and fair judgment on industries that need key support and development, and adjustments to existing tariff policies in order to truly improve the competitiveness of export-oriented enterprises.
The “Pakistan Strategic Trade Policy Development Framework 2021-2025” (STPF) submitted by the Ministry of Commerce of Pakistan has been approved by the Economic Coordination Committee (ECC) of the Pakistan Cabinet. The department is currently formulating relevant development strategies for different industries such as fruits and vegetables, engineering, poultry and rice. </p
