Pakistan, May 21 -- The first phase of the government reduction plan to lower import duties under the National Tariff Policy 2025-30 will be implemented in the upcoming budget 2025-26 and will be fully implemented in five years, read a circular issued by the Engineering Development Board (EDB).
"The government has decided to substantially lower import duties under the National Tariff Policy 2025-30. The first phase of the reduction plan will be implemented in the budget 2025-26 and will be fully completed in five years," read the circular, dated 17th May, 2025.
It said that tariff slabs will be reduced from the existing five to four under the five-year plan, whereas the maximum slab rate will be set at 15% by reducing it from the current ...