Prime Minister Shehbaz Sharif has approved a gradual reduction in import tariffs in Pakistan. This aims to promote exports and investments within the country.
Customs duty will be limited to a maximum of 15 percent. Additional Customs Duty and Regulatory Duty will be completely eliminated over the next four to five years.
The number of customs duty slabs has been reduced to four. This is to ease legal complexities related to imports and provide a level playing field to industries.