Govt targets lower industrial costs to supercharge competitiveness

December 03, 2025 (MLN):  The government has reaffirmed that cutting the cost of industrial production for manufacturers, traders and the public remains a top priority.

Prime Minister Shehbaz Sharif, presiding over a review session on proposals prepared by a sub-working group on customs duties and trade-sector reforms, said that the recently approved National Tariff Policy represents a transformative initiative, as reported by Radio Pakistan.

The policy will boost local industrial output while improving the competitiveness of Pakistani businesses in domestic and global markets.

He directed authorities to ensure strict oversight of customs duty collection on goods involved in bilateral and transit trade with neighbouring and partner countries.

During the meeting, representatives from the business community members of the sub-working group outlined existing challenges in customs and tax procedures and presented their recommendations.

The Prime Minister appreciated their input and instructed the concerned ministries and departments to extend maximum support to industry, facilitate business operations, and encourage investment in the country.

In a parallel move aimed at reducing business costs and strengthening export competitiveness, the federal government has abolished the Export Development Surcharge (EDS) on all export goods with immediate effect.

The government has also transferred management of the Export Development Fund to exporters themselves a shift praised by Advisor to the finance minister Khurram Schehzad, who said the swift decision-making reflects the government’s commitment to an investor-friendly environment.

The reforms are expected to boost export-oriented sectors such as textiles, leather and agriculture by lowering costs, improving cash flows and enabling industry-led, targeted development initiatives.

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