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Country’s First Tariff Police Drafted

ISLAMABAD: Commerce Division is all set to submit the long-awaited National Tariff Policy (NTP) 2019-24 to the Federal Cabinet, according to which tariff slabs will be re-fixed at 0%, 5%, 10%, 15% and 20% effective fiscal year 2019-20.

On March 6, 2019, Prime Minister Imran Khan, who is also Minister In Charge, approved, in principle, the draft of first-ever NTP of the country aimed at ensuring transparency, predictability and institutionalising the entire structure of tariff regime of the country.

The new tariff policy aimed to improve competition between exports and manufacturing.

Sources said that the policy will be used as a tool for trade policy rather revenue as it also envisaged to create job opportunities.