🔊 Listen to ArticleIn what seems to be a major shift in policy, the anti-import Pakistan Thereek i Insaaf (PTI) government is almost certain to reduce Regulatory Duties (RDs) and Additional Customs Duties (ACDs) on several import items. After their initial crusade against imports, the government will introduce the changes in policy in an upcoming mini-budget, after assessing that any additional taxes will have far-reaching ‘disastrous effects’ on the economy. Meanwhile, the media has been told that according to the FBR, any other additional taxes would have disastrous effects and would probably cause more loss than gains. With RDs and ACDs imposed on hundreds of items at different rates, the import compression has has reached levels around $5-6 billion. The IMF’s review mission is scheduled to hold a review of article IV talks with Pakistani authorities from Monday (tomorrow).

Source: Pakistan Today February 02, 2020 05:15 UTC