Commerce Minister Jam Kamal Khan Spearheads Tariff Rationalization Drive for Export-Led Growth

In a bid to propel Pakistan’s export sector, Federal Minister for Commerce Jam Kamal Khan convened a high-level meeting to tackle tariff rationalization. This strategic move aims to achieve an ambitious export target of $60 billion by 2027-28, as envisioned by Prime Minister Shehbaz Sharif.

To tackle the complex task, the minister formed three subcommittees, tasked with providing expert recommendations to the main committee. These subcommittees will ensure thorough deliberation, incorporating insights from both private and public sectors.

“We require ample time for thorough deliberation, incorporating insights from all stakeholders,” emphasized the Commerce Minister.

The meeting saw notable contributions from Rana Tanveer Hussain, Federal Minister for Industry and Production, and Ali Pervaiz Malik, Minister of State for Finance, Revenue, and Power. They proposed forming working groups of technical experts to handle specific Terms of References (TORs).

The committee’s TORs include reviewing existing proposals, suggesting short to long-term tariff rationalization measures, and devising a comprehensive plan to reach the export target. The Ministry of Commerce will act as the secretariat, expected to finalize recommendations within two weeks.

This move is poised to simplify tariff structures, reduce costs for domestic industries, boost exports, and attract foreign investment. By fostering collaboration and engaging stakeholders, Pakistan is set to enhance its trade competitiveness and drive economic growth.