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Pakistan Slashes Import Tariffs to Boost Economy by 2025

3/20/2025

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Summary

Story summary

Pakistan's government has made a bold move by agreeing to the IMF's demand to slash average import tariffs by one-third to 7.1% over the next five years, targeting the auto and minerals sectors. While this decision may lead to a revenue loss of Rs278 billion, it promises to boost foreign competition and invigorate economic activity, with the new policy set to kick off in July 2025.

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Story summary

Pakistan's government has made a bold move by agreeing to the IMF's demand to slash average import tariffs by one-third to 7.1% over the next five years, targeting the auto and minerals sectors. While this decision may lead to a revenue loss of Rs278 billion, it promises to boost foreign competition and invigorate economic activity, with the new policy set to kick off in July 2025.