ISLAMABAD: An online meeting of plastic sector was held on Thursday regarding tariff rationalisation under the chair of Advisor to Prime Minister on Commerce and Investment Abdul Razak Dawood. The meeting was also attended by Chairperson National Tariff Commission, Special Secretary Commerce and other officers of the ministry along with leading manufacturers of plastic sectors and representatives of SMEs.

The Advisor told the participants that plastic sector was one of the most important sectors of the economy, adding the MOC had started the process of consultation with stakeholders for tariff rationalisation of plastic sector.

He stated that Ministry was in the process of preparing three years tariff rationalisation plans for different sectors with aim to reduce the cost of production through reduction of duties. He further stated that necessary tariff protection to the local industry was vital for investment in the country, however, it was also imperative to protect down stream industry.—PR

Copyright Business Recorder, 2020