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Aftab Maken
ISLAMABAD: Finance Minister, Senator Muhammad Aurangzeb, today spearheaded crucial discussions on two key government initiatives: the ongoing implementation of the National Tariff Policy and the imminent launch of the Prime Minister’s Fan Replacement Program. These meetings underscore the government’s commitment to boosting economic competitiveness and promoting energy efficiency.
Tariff Reforms
In a meeting of the Steering Committee for the Implementation of the National Tariff Policy, Finance Minister Aurangzeb emphasized the policy’s role as a five-year blueprint for liberalizing trade, fostering export-led growth, and enhancing industrial competitiveness. He highlighted that the committee, formed by the Prime Minister, is tasked with continuously monitoring progress and guiding the domestic industry through this reform period.
The National Tariff Commission (NTC), operating under the Ministry of Commerce, provided a comprehensive overview of its mandate, functions, and recent performance. The NTC plays a vital role in protecting local industries through rational tariff structures and by taking action against unfair trade practices like dumping and subsidized imports.
The NTC also detailed its efforts to strengthen its institutional capacity, including organizational reforms, technical training, automation of processes, and plans for a dedicated facilitation center for exporters. Minister Aurangzeb acknowledged the NTC’s contributions and urged it to maintain its focus on ensuring a level playing field for local producers. While pledging support for the NTC’s resource needs, he advised the commission to aim for a lean, responsive, and fit-for-purpose structure aligned with international best practices and WTO rules, rather than simply expanding in size.
The meeting concluded with a shared determination among participants to work closely to successfully implement the National Tariff Policy, thereby strengthening Pakistan’s trade competitiveness and industrial development.
Fan Replacement Program
Later in the day, Finance Minister Aurangzeb chaired another high-level meeting to review the progress and readiness for the upcoming launch of the Prime Minister’s Fan Replacement Program.
The program, designed to promote energy efficiency and financial inclusion, aims to replace old, inefficient fans with energy-saving models. Stakeholders provided detailed updates on the program’s operational readiness, including finalized agreements with participating banks and the integration of banking systems. The Punjab Technology Investment Board and Power Information Technology Company are providing technological solutions to expedite implementation.
Senator Aurangzeb reiterated the Prime Minister’s strong emphasis on this initiative, highlighting its potential to positively influence consumer behavior, reduce energy consumption, and offer broader economic benefits. He commended the collaborative efforts of all stakeholders, especially the banking sector. The Minister directed that all necessary actions be completed within the next two to three weeks to enable the launch of the program’s first phase, along with the initial batch of participating banks, by the end of the month.
The participants reaffirmed their commitment to ensuring the timely and seamless execution of the program, aligning with the government’s broader economic and energy sector reform agenda.
