Commerce Ministry Sets Deadline for Budget Proposals 2025-26

Commerce Ministry Sets Deadline for Budget Proposals 2025-26

Islamabad, January 8, 2025 – The Ministry of Commerce has announced a deadline for submitting tariff-related budget proposals for the fiscal year 2025-26. Stakeholders have been invited to provide their input by February 15, 2025, to ensure their suggestions are considered during the preparation of Pakistan’s upcoming federal budget.

The ministry has specified that the proposals should focus on changes to Pakistan Customs Tariffs, encompassing adjustments to rates, exemptions, or any other tariff-related measures that could impact trade and industry. To streamline the process, the Tariff Policy Center (TPC) and Tariff Policy Wing (TRP) of the Ministry of Commerce have devised specific formats for submission.

The ministry emphasized that stakeholders must use the prescribed formats, prepared on Microsoft Excel, and refrain from using alternative templates. Adhering to the given format will allow for a systematic evaluation and processing of proposals. Stakeholders are also encouraged to carefully study the existing customs tariff rates and provisions before formulating their submissions.

To strengthen their cases, stakeholders should support proposals with statistical data, market analysis, or any relevant documentation. This ensures that submissions are not dismissed due to incomplete or unsubstantiated information.

Local manufacturers seeking tariff protection for their finished products or concessions on raw materials are required to provide comprehensive data as per the specified format. This includes detailed information about production costs, market trends, and the potential impact of proposed changes.

The Ministry of Commerce has reiterated the importance of adhering to the deadline, emphasizing that proposals received after February 15, 2025, will not be entertained. The ministry also urged stakeholders to act promptly and responsibly, as their inputs play a crucial role in shaping Pakistan’s trade and industrial policies.

This initiative underscores the government’s commitment to fostering a collaborative approach in budget planning. By involving key stakeholders from various sectors, Pakistan aims to create a more efficient and equitable tariff structure that supports economic growth and competitiveness.

Stakeholders, including industry representatives, trade bodies, and exporters, are encouraged to seize this opportunity to contribute to Pakistan’s fiscal and trade policies for the upcoming year.