ISLAMABAD: Minister for Finance and Revenue Shaukat Tarin said on Wednesday that tariff rationalisation is a pressing need of the time.

He stated this, while presiding over a meeting on tariff rationalisation, and stated that rationalising tariff structure must aim at broadening and strengthening the industrial base and contribute towards the overall economic growth.

A dynamic tariff structure is vital for export-led industrialisation and improves competitiveness of the domestic industry, he added.

The Ministry of Commerce made a detailed presentation on the current tariff structure, and updated the finance minister on tariff rationalisation measures and its role in enhancing economic activities in the country.

Federal Minister for Industries and Production Makhdum Khusro Bakhtyar, Adviser to the Prime Minister on Commerce Abdul Razak Dawood, SAPM on Revenue Dr Waqar Masood, the chairman FBR, the special secretary Commerce, the secretary Ministry of Industries and Production, member Customs, and other senior officers participated in the meeting.

Copyright Business Recorder, 2021