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Pakistan Government to increase duty to control imports

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The Ministry of Commerce of Pakistan is planning to control increasing imports to the country, which reached an all time high of $60 billion during last financial year.

“The government is planning to increase Regulatory Duty (RD) on more than one thousand imported items,” said an official. He said that the ministry would present its plan to the next government for approval. Pakistan’s trade deficit had surged to the highest ever during the year as imports increased faster than exports.

Pakistan’s imports were $60.9 billion during the year compared with $52.9 billion during the previous year, showing an increase of 15.1 percent.