HomeEconomyGovernment to abolish duties on raw material

Government to abolish duties on raw material

Regulatory and additional duties on raw material, which is not produced locally, will be abolished, said Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood.

Speaking to a delegation of the Lahore Chamber of Commerce and Industry (LCCI), he said that customs duty applicable on such inputs would also be reduced by the government in a bid to make Pakistani products more competitive in the global market.

He announced that banking agreements with Afghanistan and Uzbekistan were in progress and once these agreements come into effect, trade with the two countries will be regularised. He added that councils were being established to enhance exports of leather, mango, potato, kinnow and dates.

The adviser expressed optimism that this move would yield excellent results for the economy of Pakistan.

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