ISLAMABAD – Web Desk: Prime Minister Shehbaz Sharif chaired two key meetings on overall economic growth, implementation of the National Tariff Policy 2025-30, and ongoing reforms in the Federal Board of Revenue (FBR), with detailed reviews of measures to promote exports, increase investment, and modernize the tax system.
The Prime Minister stated that achieving export-led growth targets is the government’s top priority, emphasizing that an active and transparent National Tariff Commission is essential for promoting industry, trade, and investment. He directed that best practices and modern technology — particularly information technology and artificial intelligence — be utilized to bring innovation to the Commission.
According to briefing, the National Tariff Policy 2025-30 envisions gradual tariff reductions across various sectors to achieve export-led economic growth targets. Proposals include eliminating duties on reefer containers and semi-trailers for logistics sector development, reducing customs duties on special vehicles and machinery for the construction sector, and eliminating customs duties on raw materials for the pharmaceutical industry, particularly for cancer drug manufacturing.
On FBR reforms, a comprehensive plan was presented to make inland revenue collections more effective, transparent, and automated. The Prime Minister stated that an automated, modern, and effective tax management system through modern technology will be a milestone in the government’s reform agenda, emphasizing that human interference and discretionary powers must be minimized. An automated tax system capable of identifying under-reported income and assets using property, vehicle, and bank data was presented. The Prime Minister directed that a pilot project of the proposed automated income tax collection system be started from Islamabad.
