March 10, 2021 (MLN): The Ministry of Commerce (MOC), on Wednesday,  informed that the reduction of tyres' smuggling has resulted in increased revenues for local companies.

Taking to his Twitter handle, Adviser to Prime Minister of Pakistan for Commerce and Investment, Abdul Razaq Dawood said “MOC has always believed that rationalising tariffs boosts economic activity, reduces smuggling & enhances industrial growth. It is heartening to note that reduction of tyres' smuggling has resulted in increased revenues for local companies & same is happening in other sectors.”

While encouraging the government to successfully stop the process of de-industrialization he said, “We now are working towards industrial expansion.”

 This will not only bring in FDI but it will also be reflected as an increase in our exports, he added.

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