Prime Minister Imran Khan has approved, in principle, the first-ever 'National Tariff Policy' that aims at ensuring transparency, predictability and institutionalizing the entire structure of tariff regime of the country.
The decision was taken at a meeting in Islamabad today with Prime Minister Imran Khan in the chair.
The draft policy would be presented before the Federal Cabinet for its consideration.
Addressing the meeting, the Prime Minister said the policy will greatly restore confidence of the business community by providing an institutionalized structure for tariff setting.
The Prime Minister observed that the economy, especially the trade and industrial development suffered in past due to ad-hocism and unpredictability of tariff structure resulting in capture of the economy by vested interests and rampant corruption.
Highlighting salient features of the policy, Secretary Commerce Mohammad Younus Dagha said that the major objectives of the National Tariff Policy is to improve competitiveness through access to raw materials, increase employment opportunities by attracting investment through transparent and predictable tariff regime and remove anomalies in tariff structure.