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Govt ‘tweaking’ Tariff Structure To Boost Local Production

Govt ‘tweaking’ Tariff Structure To Boost Local Production

Submitted by • May 6, 2020 tribune.com.pk

Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood has said that the ministry is aggressively working on making changes in the tariff structure for the upcoming budget to facilitate local production in a bid to decrease the import bill.

“The changes will help the local manufacturing sector under the ‘Make in Pakistan Policy’,” the adviser posted on his Twitter handle on Tuesday.

“The government wants to increase customs duties instead of direct income tax,” said Dawood, adding that it also wanted to document the non-tax businesses and bring them into the tax net.
The adviser said the government might not change export tariffs and tax slabs in the upcoming budget (2020-21).

He said the coronavirus (Covid-19) pandemic had changed the world. “We are reviewing the recent situation as now the business process will be completely different.”

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