September 23, 2020 (MLN): Economic Coordination Committee (ECC) today has approved the proposal for the removal of additional customs duties (ACDs) and regulatory duties (RDs) on selected HS Codes of the textile sector, including synthetic fibers, wool, and vegetable-based fibers.
In a tweet, Advisor to PM, Abdul Razak Dawood said, ‘This is in pursuance of our policy for cost reduction by reducing all duties, on raw materials as well as intermediaries, and an essential part of promoting industrialization under ‘Make in Pakistan’ and ensuring export-led growth.’
He further said in a series of tweets that soon notification will be issued after ratification by the Cabinet.
‘This decision will enable our exporters to widen their product range, capture more of the synthetic market and improve our competitiveness. MOC will now do the same in other sectors like Leather, Engineering, Chemicals, Pharma and Food, etc’, he concluded.
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