KARACHI: The Pakis­tan Business Council has welcomed the approval National Tariff Policy by the Federal Cabinet.

The new policy is in line with PBC’s, “Make-in-Pakis­tan” thrust, a press release said.

A distorted tariff regime whose primary objective is short-term revenue maximisation at the expense of domestic manufacturing has no doubt been a big contributor to the loss of competitiveness of Pakistan’s manufacturing sector, it added.

“Tariffs need to be cascading with the lowest on raw materials not available in the country and highest on the finished products.

“Pakistan, unfortunately has followed a regime in which tariffs have not adequately differentiated between raw materials, intermediary products and finished items.

Published in Dawn, November 21st, 2019