Reduction in Import Duties recommended: EAG

December 15, 2021

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The Economic Advisory Group (EAG) has proposed lowering tariffs and non-tariff barriers, strengthening integration with regional trading partners, and replacing various tariffs them with a single tariff across all sectors.

According to the EAG Vision Document, which sets out comprehensive proposals for the preparation of economic policy and a new vision of economic changes along four axes: an overview of the pricing systems currently regulating the agricultural and commodity sectors; reforming the education system with the aim of introducing and developing vocational training at the higher and secondary levels; Reducing trade tariff and non-tariff barriers and strengthening integration with regional trading blocs; And finally, a reassessment of industrial policy, with a focus, inter alia, on moving from selecting winners to rewarding innovators, improving urban land use and simplifying tax laws.

The EAG vision paper also proposes that the government, in particular the Ministry of Planning, replace the supporting price in the agricultural sector with crop insurance for small farmers. He proposed to liberalize the system of permits for opening factories.

He called for the revision and reform of the provincial sugar factory control law and related laws to increase competition. In addition, it was proposed to introduce a single duty on imports or any product in accordance with the recommendations of tariff reforms.

He proposed to allow companies to import any goods at any time without permission and to allow the storage of goods in order to facilitate the development of storage infrastructure.

It has also been suggested that targeted interventions are also needed for skills development programs. It has been suggested to introduce and promote high tech / end-of-life contracts such as AI, robotics, 3D animation, game development, Android, app development, cloud computing, renewable energy security, industrial automation, etc., it is proposed to maximize industrial own. Through vocational training legislation, temporary incentives and purpose.