ISLAMABAD: The federal government has unveiled substantial tariff reductions for the pharmaceutical, logistics, and construction industries as part of the new National Tariff Policy (NTP) 2025-30, aiming to stimulate investment, enhance trade, and support industrial expansion.
Prime Minister Shehbaz Sharif directed officials to ensure the smooth rollout of the tariff reforms and to modernize the institutions managing tariffs to create a more conducive business climate.
Leading a high-level session on economic development and the enforcement of NTP 2025-30, the Prime Minister highlighted that boosting exports remains a primary goal of the government’s economic strategy. He stressed the importance of an efficient and transparent National Tariff Commission in fostering industry growth, trade, and investment.
During the briefing, officials outlined the phased approach to tariff reductions, designed to bolster Pakistan’s export competitiveness across various sectors. Notably, duties on reefer containers and semi-trailers will be eliminated to support the logistics industry and streamline supply chains.
Additionally, customs duties on specialized vehicles and machinery are set to be lowered to promote expansion within the construction sector. In a significant move for the pharmaceutical industry, customs duties on essential raw materials—particularly those used in producing cancer medications—will be completely removed to encourage local manufacturing and improve access to vital medicines.
Prime Minister Shehbaz emphasized that tariff reforms combined with institutional upgrades are vital for increasing exports, attracting foreign investment, and ensuring sustainable economic growth.
The meeting was attended by key government figures, including Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Law Minister Azam Nazeer Tarar, Minister of Economic Affairs Ahad Khan Cheema, Climate Change Minister Musadik Malik, Petroleum Minister Ali Pervaiz Malik, Minister of State for Finance Bilal Azhar Kayani, Special Assistant Haroon Akhtar, and other senior officials.
