Tariff Cuts Approved on 300 Products

Islamabad, August 17, 2025, 05:22 PM PKT — Federal Minister for Commerce Jam Kamal has delivered a game-changing announcement to the Senate, revealing that the government has approved steep cuts in import tariffs on approximately 300 products, aiming to ignite industrial growth, slash consumer costs, and boost export competitiveness, as per official disclosure in response to a calling attention notice. The reductions target goods not locally produced, leaving duties on 900 other products intact under the National Tariff Policy, down from previous highs of 40%, to ease raw material access and lower prices, with implementation phased over one to five years, backed by Prime Minister Shehbaz Sharif and the federal cabinet.

This tariff rationalisation, a first-of-its-kind move, aligns with broader trade and economic policy shifts, including governance reforms at the Trade Development Authority of Pakistan (TDAP) and Export Development Fund (EDF), with technical evaluations ensuring transparency. The government is pushing trade deals with the United Kingdom, Vietnam, Cambodia, and South Korea, planning visits to the European Union, Geneva, and Brussels. Web context on trade policies shows past inefficiencies, while posts found on X reflect hope mixed with skepticism—some cheer cost relief, others question execution. Critically, the narrative of “economic revival” may mask implementation risks—web data hints at past delays, and X sentiment suggests distrust in sustained benefits, pointing to potential hurdles.