Commerce Minister Chairs Meeting Over Tariff Rationalization to Hit $60 Billion Export Target

Federal Minister for Commerce Jam Kamal Khan chaired the inaugural meeting of high level committee formed by Prime Minister Shehbaz Sharif to focus on tariff rationalization aimed at achieving an export target of $60 billion by 2027-28. Recognizing the complexity and extensive scope of the task, the minister established three subcommittees to expedite the process. These subcommittees have been tasked with providing detailed recommendations to the main committee, which will then present a finalized report to the prime minister. During the meeting, the minister emphasized the technical nature of the subject and the need for comprehensive consultation with experts from both the private and public sectors. “Given the intricacy of the topic, we require ample time for thorough deliberation, incorporating insights from all stakeholders,” the minister said. The session also saw contributions from Federal Minister for Industries & Production Rana Tanveer Hussain and Minister of State for Finance Revenue Ali Pervaiz Malik, both of whom concurred with the commerce minister’s approach. They proposed forming working groups of technical experts from various sectors to handle specific Terms of References (TORs). The meeting was attended by secretaries of relevant ministries, the Chairman of the Federal Board of Revenue (FBR), and other members of the main committee via zoom link. The committee’s TORs include reviewing existing proposals, suggesting short to long-term tariff rationalization measures, and devising a comprehensive plan to reach the export target. The Ministry of Commerce will act as the secretariat for the committee, which is expected to finalize its recommendations within two weeks.