Govt backtracks on tariff reform
ISLAMABAD: In a marked deviation from its stated tariff reform agenda, the government has retained regulatory duties (RDs) on the import of over 300 tariff lines — including seafood, fruits, and vegetables — in a bid to shield domestic producers, triggering concerns over the credibility of the five-year Tariff Policy Reform (TPR) plan.
The Federal Board of Revenue (FBR) notified the revised RDs on Monday following approval from the federal cabinet. The move reverses an earlier decision under the TPR to reduce RDs to zero on these items from July 1, a plan that was already ratified by the prime minister and the cabinet.
The U-turn comes amid mounting pressure from local agricultural lobbies and select industries, reflecting the challenge of balancing reform with vested interests. The total import volume of the affected tariff lines constitutes less than 0.02pc of the country’s overall imports, yet these products still........
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