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ISLAMABAD, Feb 14 (APP):The Ministry of Commerce will organise, six-day ‘Pre-Budget 2025-26’ consultative sessions and seminar on tariff-related proposals from February 10th to 15th, 2025.
The Ministry of Commerce, in preparation of the coming budget exercise for FY 2025-26, is conducting pre-budget (2025-26) consultative sessions on tariff-related proposals and the draft new National Tariff Policy (NTP 2025-30) from 10th to 15th February 2025, at Pakistan Institute of Trade and Development (PITAD) Islamabad, said a press release issued here on Friday.
The purpose of these sessions is to disseminate information on the Draft National Tariff Policy (NTP 2025-30), and also to sensitize the private sector about the process of tariff rationalization for seeking any changes in the current tariff structure of various products.
Adjustments in the tariff structure are made through tariff rationalization carried out under the Tariff Policy Board, the apex body which recommends changes in Customs duties (CDs), Additional Customs Duties (ACDs), and Regulatory Duties (RDs).
During these consultative sessions, all key sectoral associations as well as Chambers of Commerce and Industry have been invited to present their proposals related to the current tariff structure.
These include all Associations related to key sectors such as Textile yarn, Fabrics, Apparel, Home Textiles, Leather, Footwear, Ready-made garments, Agriculture, Rice, Meat, Dairy, Fisheries, Poultry, Fruits and vegetables, Food processing, Engineering and Minerals, Sports goods, Pharmaceuticals, Chemicals, Furniture, Plastics, Glass, Marble and Granite, Minerals, Surgical Instruments Cutlery stainless utensils, Fans, Automotive parts, Tractors, Automobiles, Gems & jewelry, Cement, and Iron & Steel etc. All key Chambers and Associations of the country have also been invited for these consultative sessions.
These week-long consultations with the private sector will be followed by a pre-budget Seminar to be held on February 17th, 2025.
During the Seminar, the Ministry will present the detailed contours of the new draft policy with deliberations on the impact analysis of NTP 2019-24 and objectives, principles, proposed tariff reforms and expected economic impact of the new draft policy (NTP 2025-30).
In the Seminar, outcomes of the week-long consultative sessions with the sectoral Associations of the private sector will also be presented.
All key chambers of commerce and industry including Federation of Pakistan Chambers of Commerce Industry (FPCCI), Overseas Investors Chamber of Commerce and Industry (OICCI), Pakistan Business Council (PBC), Islamabad Chamber of Commerce and Industry (ICCI), Karachi Chamber of Commerce and Industry (KCCI), Lahore Chamber Commerce and Industry (LCCI), Sarhad Chamber of Commerce and Industry (SCCI) and Quetta Chamber of Commerce & Industry etc.; will present tariffs-related budget proposals.
From the public sector, the Seminar will be attended by relevant officers from Ministry of Commerce, Ministry of Industries and Production, Ministry of Finance, Federal Board of Revenue, National Tariff Commissionand Board of Investment.
The Pre- budget seminar will provide a platform to stakeholders for engaging in meaningful discussions on the benefits and implications of tariff rationalization.
The participants will learn about the annual budget exercise conducted at the Ministry of Commerce for recommending changes in the current tariff regime.
Every year, starting from around the month of February, a comprehensive drive is run by the Tariff Wing of the Ministry of Commerce inviting budget proposals on a specific format from all relevant public and private industry stakeholders from across the country.
The call for proposals along with the prescribed format is available at the official website of Ministry of Commerce.
The event will feature a keynote address by the Federal Minister for Commerce Jam Kamal. Distinguished speakers from the Ministry of Commerce, industry experts and representatives from chambers of commerce and industry will present their tariff-related proposals during the Seminar.
The event will provide an opportunity of interaction and networking to all the participants before proceeding to the budget exercise 2025-26.