Pakistan’s Advisor to Prime Minister on Commerce Abdul Razak Dawood has declared that Import duty on Industrial Raw Materials will be reduced by six per cent from 1st January 2021.

Abdul Razzak Dawood was speaking to Punjab industrialists at a meeting held in Civil Secretariat on Saturday. He said: “The reduction of import duty on raw materials will benefit the industry. I am the representative of industrialists in Islamabad and will help resolve all their genuine problems”. He further said: “The industrialists should give suggestions for long-term planning of industrialisation”.

During the meeting, Punjab’s provincial minister gave a detailed briefing on the promotion of industrialisation in Punjab and future strategy.

Federal Advisor further added that the business community should take benefit of the government’s temporary economic refinance facility (TERF) offered through Banks for importing machinery and the scheme of the federal government which will continue till March 31, 2021.

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