New policy to review 7,000 tariff lines for enhancing exports, investment: Razak Dawood

KARACHI: The government will review 7,000 customs tariff lines in the new national tariff policy in order to promote investment in Pakistan, Abdul Razak Dawood, Adviser to Prime Minister on Commerce and Textile said on Saturday.
Addressing at an even host by International Steel Limited, he said that the work on national tariff policy would begin after approval of reform package in next 6-7 days.
He said that the new tariff policy would be for three to four years and it would focus on facilitating industry and increase exports and investment.
Commenting on Finance Supplementary (Second Amendment) Bill, 2019, the adviser said that traditionally budget making was number game for the previous government. “Unlike this tradition, the present government focused the core issues of the economy,” he added.
In the latest reform package the government focused on around 15 sectors for resolving issues, he said and added that this package will be approved in next seven days.
He also dispelled the impression that the package was introduced to generate revenue. “In fact it will cost around Rs7 billion as revenue to the national economy,” he added.
The adviser said that the government would not allow unnecessary and luxury imports to save the foreign exchange.
Dawood said that due to policy adopted by the present government the exports are increasing and imports are easing.

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