Pak to reduce 6% import duty on raw materials from Jan 1

Pakistan has decided to reduce the duty on import of raw material by 6 per cent from January 1, adviser to prime minister on trade and investment Abdul Razak Dawood informed Punjab province’s minister for industries and trade Mian Aslam Iqbal recently. Dawood sought suggestions from industry representatives on long-term planning of industrialisation.

Dawood was meeting industrialists and businessmen of Punjab on their problems.

He urged the business community to take benefit from the government’s temporary economic refinance facility for importing machinery and the scheme of the federal government worth Rs 100 billion would continue till March 31, according to Pakistani media reports.

Iqbal said mapping has been done for setting up new industries in Punjab. New economic hubs, including four special economic zones, will also be developed in the province.

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