ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Thursday ordered an urgent overhaul of a top government body responsible for regulating customs duties on imports and exports, aiming to strengthen its legal, administrative and institutional powers amid growing calls to modernize the country’s trade policy.
Announcing its federal budget for 2025-26, Pakistan said it planned to cut the overall tariff regime by more than 4 percent over the next five years, as part of reforms aimed at shifting the country toward an export-led growth model.
As per the National Tariff Policy 2025–30, the government plans to abolish additional customs duties, regulatory duties, and the fifth schedule of the Customs Act, 1969. The policy envisions a streamlined customs structure with just four duty slabs ranging from 0 to 15 percent, which would become the maximum rate. The move is part of Pakistan’s push not just to boost its exports and protect its local industry but also meet international obligations, including aligning with the government’s commitments under a $7 billion IMF program approved last year.
“Reorganization of the National Tariff Commission along modern lines is indispensable to fully meet the requirements of the new tariff regime,” a statement quoted Sharif as saying after he chaired a high-level review meeting on the NTC’s performance.
