Pakistan has finalized a trade liberalization plan aimed at significantly reducing import taxes to stimulate exports and boost economic growth

The Tariff Rationalization for Export-Led Growth plan, estimated to cost the government Rs476 billion over five years, has received in-principle approval from

Prime Minister Shehbaz Sharif and now awaits cabinet and IMF endorsement.

The plan proposes eliminating regulatory duties, additional customs duties, and gradually phasing out sales and withholding taxes at the import stage, aiming to lower production costs for export-oriented industries.

By reducing the average import tariff from nearly 20% to under 15% over three to five years, the plan is expected to enhance competitiveness, forcing local industries to compete globally