ISLAMABAD
\nNasir Mansoor, President of the Islamabad Chamber of Commerce and Industry (ICCI), has welcomed the Government\u2019s newly approved five-year tariff reform plan, describing it as a transformative step toward bolstering Pakistan\u2019s export potential and economic resilience.
\nIn a significant policy shift, Prime Minister Shehbaz Sharif has approved a comprehensive strategy aimed at reducing customs duties, additional customs duties, and regulatory duties on raw materials and semi-finished goods.
\nThe initiative is expected to drive export-led growth, attract foreign investment, generate employment, and curb inflation.
\nThe approval of this tariff reform plan marks a major milestone for Pakistan\u2019s economy, said Nasir Mansoor.
\nIt reflects a forward-looking vision that aligns with our long-standing demand for a more competitive trade environment.
\nBy enabling easier and more affordable access to raw materials, intermediate goods, and capital equipment, the reforms will strengthen domestic industries and promote economic growth.
\nThe ICCI President highlighted that the rationalization of tariffs could increase exports by up to $5 billion by the end of the plan, paving the way for a more competitive presence in global markets. He also expressed optimism that the initiative would attract greater international investment and reduce the current account deficit by encouraging legal imports.
\nThese reforms will make our industries more efficient and globally competitive while helping stabilize the national currency and reduce inflationary pressure.
\nConcluding his statement, he emphasized the importance of continued collaboration between the public and private sectors to ensure successful implementation and maximize the benefits of the reform package for Pakistan\u2019s economic future.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Nasir Mansoor, President of the Islamabad Chamber of Commerce and Industry (ICCI), has welcomed the Government\u2019s newly approved five-year tariff reform plan, describing it as a transformative step toward bolstering Pakistan\u2019s export potential and economic resilience. In a significant policy shift, Prime Minister Shehbaz Sharif has approved a comprehensive strategy aimed at reducing customs […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-479225","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n