Development Legal Updates News

Commerce Minister Announces Tariff Reforms for Boosting Trade Competitiveness

Commerce Minister Announces Tariff Reforms for Boosting Trade Competitiveness-realtorspk

The Commerce Ministry held an informative session in Islamabad this Thursday, focusing on tariff adjustments to better equip trade organizations, exporters, and relevant public entities with knowledge about enhancing trade efficiency. Key participants at the event included commerce and industry chamber representatives, product association members, and industry experts from across the country.

The Commerce Minister, Jam Kamal, in his address, highlighted the importance of revising tariffs to boost the nation’s trade prowess and economic development. He emphasized that this revision is geared towards reducing operational costs for local industries, increasing export volume, and drawing in international investments.

The Commerce Secretary pointed out that the seminar was crucial for initiating constructive discussions about the repercussions and advantages of tariff changes.

The attendees were briefed on how this pre-budget convention is a chance for stakeholders to understand the initiatives being taken for tariff adjustments, assess their sector-specific impacts, and contribute to the strategic overhaul of current tariffs.

The Ministry conducts an annual call for budget suggestions in February, inviting input from stakeholders, which is available in a set format on the Commerce Ministry’s website. This seminar served as a platform to guide participants on influencing policy through informed feedback on tariff structures and optimization efforts. The program included talks by Commerce Ministry officials, industry authorities, and Trade Association and Commerce Chamber representatives.

The sessions showcased budget recommendations from various bodies including the Federation of Chambers of Commerce & Industry (FPCCI) and the local Chambers of Commerce from Islamabad, Lahore, Karachi, Peshawar, and Quetta. For the latest Real Estate News and Blogs, visit Realtorspk blogs.

You may also like

Read More