Pakistan is planning to remove duties on many imported raw materials used by exporters, according to commerce and investment adviser to Pakistan’s prime minister, Abdul Razak Dawood. This will make them more regionally competitive and help the economy escape a recurring boom-bust cycle. Dawood mentioned that last year import duty was slashed on more than 1600 products and will further be eliminated in this year’s budget.
The government will lift the duty on importing wheat in order to control soaring flour prices in the country, according to PTI leader Jahangir Khan Tareen. He further added that the price will drop once the wheat enters the market. Prime Minister Imran Khan tasked Tareen and National Food Security and Research Minister Khusro Bakhtiar with resolving the issue.