PM says export-led growth is top priority, asks NTC to support investors

ISLAMABAD: Prime Minister Shehbaz Sharif has said the government’s foremost economic priority is to meet export-led growth targets and directed the National Tariff Commission (NTC) to take a more active role in facilitating investors and industrialists, according to the Prime Minister’s Office (PMO).

The PMO said the prime minister chaired a review meeting on Thursday on overall economic growth and the implementation of the National Tariff Policy 2025-30. During the meeting, Shehbaz stressed that the NTC’s active and transparent functioning was vital for the promotion of industry, trade and investment in the country.

According to the PMO, the prime minister also called for the NTC to be modernised in line with international best practices. He said the commission should adopt modern technology, including information technology and artificial intelligence, as part of that process.

The meeting was also briefed on progress under the National Tariff Policy 2025-30. The PMO said the briefing outlined that tariffs for different sectors would be lowered gradually under the policy with the aim of achieving export-oriented economic growth targets.

According to the PMO, duties on reefer containers and semi-trailers will be abolished to promote and develop the logistics sector. The briefing also stated that customs duties on specialised vehicles and machinery are being reduced in support of the construction sector.

The PMO further said customs duties on raw materials, especially those used in cancer medicines, will also be abolished to facilitate the pharmaceutical sector.

Ministers attend review meeting

The meeting was attended by Law and Justice Minister Azam Nazeer Tarar, Climate Change Minister Musadik Malik, Economic Affairs Minister Ahad Khan Cheema, Finance and Revenue Minister Muhammad Aurangzeb, and Petroleum Minister Ali Pervaiz Malik, along with other participants, the PMO said.