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Pak TPB to rationalise textile sector tariff structure
10 Aug '20
1 min read
Pic: Shutterstock
Pakistan’s Tariff Policy Board (TPB) last week decided to rationalise the tariff structure for the textile sector, with a focus on raw materials. A meeting of the board chaired by adviser to the prime minister on commerce and investment Abdul Razak Dawood issued a statement that the Tariff Policy Centre (TPC) would study the tariff structure of the sector and make recommendations.
The commerce ministry, in consultation with the TPC, presented a future road map of tariff rationalisation before the TPB for consideration and feedback. The board also discussed different proposals, received from different sectors, regarding tariff rationalization, according to Pakistani media reports.
Dawood said tariff rationalisation is a complicated exercise and that it would take time to implement the National Tariff Policy 2019-24. A three-year plan for tariff rationalization should be finalised at the earliest, he said.
The commerce ministry, in consultation with the TPC, presented a future road map of tariff rationalisation before the TPB for consideration and feedback. The board also discussed different proposals, received from different sectors, regarding tariff rationalization, according to Pakistani media reports.
Dawood said tariff rationalisation is a complicated exercise and that it would take time to implement the National Tariff Policy 2019-24. A three-year plan for tariff rationalization should be finalised at the earliest, he said.
Fibre2Fashion News Desk (DS)
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