Prime Minister’s Special Assistant on Industries and Production, Haroon Akhtar Khan, is set to present proposals for reducing duties on industrial raw materials in the upcoming fiscal year 2025–26 budget. These measures aim to boost local manufacturing by making raw materials and industrial machinery more affordable. The proposals were discussed in the National Assembly Standing Committee on Commerce, chaired by MNA Jawed Hanif Khan, following recommendations from the Committee on Industry.
Commerce Secretary Jawad Paul assured the committee that tariff rationalisation efforts are driven by domestic economic priorities and not external pressures like the IMF. The committee emphasized that tariff cuts should target raw materials and machinery rather than finished goods or luxury items to support Pakistan’s ambitious $60 billion export target. This approach is intended to enhance industrial competitiveness and overall trade facilitation.
The meeting also addressed the disruption caused by the recent 60-day ban on the export and import of gold and gemstones. Stakeholders reported severe losses due to consignments being blocked mid-transit. A committee led by the Commerce Secretary is reviewing the situation and is expected to recommend releasing shipments already in transit. Further discussions will include representatives from the State Bank of Pakistan and the Federal Board of Revenue.
Concerns were raised about the Department of Plant Protection (DPP) and its treatment of rice exporters. Allegations included harassment and the use of banned fumigation materials. The DPP Director General defended their strict enforcement of phytosanitary standards but acknowledged operational challenges. The committee urged the DPP to improve oversight and ensure exporters are not unduly harassed.
Finally, the committee considered requests from industry groups such as the Juice Manufacturers Association to include duty drawbacks on incremental exports in the budget, which could help double export volumes. Legislative amendments related to the Export Development Fund and Trade Development Authority were also reviewed, with a new sub-committee formed for further deliberation. The meeting underscored the government’s focus on strengthening trade policies aligned with national economic goals.