logo logo

Government announces tariff reductions

Daily Times, Pakistan

Government announces tariff reductions

By Sajid Chaudhry

21 June 2007

ISLAMABAD: Pakistan has announced tariff reduction on the import of 6936 items under five bilateral and regional trade agreements.

The Central Board of Revenue (CBR) has issued notifications in this regard and has said that these tariff reductions are going to be effective from June 10, 2007.

According to the South Asia Free Trade Agreement (SAFTA), Pakistan has announced its fourth tariff reduction of 5 percent of the existing tariff on the import of 4987 items from SAARC member countries.

However, this fourth tariff reduction would be available to India on 1073 items, as imports from India to Pakistan are being governed under the positive list-based trading system.

The government has allowed further tariff reduction on import of 1235 items from China under Pak-China Early Harvest Program. The items being traded under this program would be merged into Pak-China FTA on July 1, 2007.

The government of Pakistan has allowed further tariff reduction on the import of 128 items under the Pak-Malaysia Early Harvest program.

Further tariff reduction has been allowed on import of some 602 items from Sri Lanka under the Pak-Sri Lanka Free Trade Agreement.

Pakistan has also allowed further tariff reduction on import of 475 items from Iran under Pak-Iran Preferential Trade Agreement. Sajid Chaudhry