ISLAMABAD: The National Tariff Policy Board on Thursday decided to rationalise tariff structure on the textile sector, particularly on raw materials.
An official statement said that during the board meeting chaired by Commerce Adviser Razak Dawood, it was decided that the Tariff Policy Centre (TPC) would conduct a detailed study on the tariff structure of the textile sector. Recommendations of the study would be placed before the board for its decision.
The Ministry of Commerce, in consultation with the TPC, presented a future roadmap of tariff rationa-lisation before the board for consideration and feed-back. The board also discussed different proposals received from different sectors regarding tariff rationalisation.
Razak stated that tariff rationalisation is a complicated exercise and it would take time to implement National Tariff Policy 2019-24.
He added that a three-year plan for tariff rationalisation — after analysing the value chain of the priority sectors — should be finalised as early as possible.
He underscored that tariff related measures should promote equitable development and competitiveness of the local industry, resulting in the growth of our export-led “Make in Pakistan” growth.
