{"id":21383,"date":"2025-05-20T14:09:47","date_gmt":"2025-05-20T09:09:47","guid":{"rendered":"https:\/\/dailyrapidnews.com\/eng\/?p=21383"},"modified":"2025-05-20T14:09:53","modified_gmt":"2025-05-20T09:09:53","slug":"imf-agrees-to-slash-customs-regulatory-duties-in-new-tariff-policy","status":"publish","type":"post","link":"https:\/\/dailyrapidnews.com\/eng\/2025\/05\/20\/imf-agrees-to-slash-customs-regulatory-duties-in-new-tariff-policy\/","title":{"rendered":"IMF agrees to slash customs, regulatory duties in new tariff policy"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Significant developments have been made in the new tariff policy as part of the ongoing negotiations between Pakistan and the International Monetary Fund (IMF) regarding the fiscal targets of the 2025-26 federal budget.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to official documents, the IMF has accepted Pakistan&#8217;s proposal to reduce customs and regulatory duties under the 2025-30 Tariff Policy Framework.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The IMF and the Pakistani government are aligning on policies aimed at modernizing the automotive sector, promoting environmentally friendly electric vehicles (EVs), and phasing out traditional fuel-based cars. It is projected that by 2030, 30% of new vehicles in Pakistan will be EVs. To facilitate this shift, the government is planning to introduce a subsidy scheme for battery-powered vehicles and develop a nationwide EV charging station infrastructure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Essentially, the government has assured the IMF that it will lift the ban on the import of vehicles up to five years old in the upcoming budget. In contrast, to discourage fossil fuel usage, a carbon levy of Rs. 5 per litre will be imposed on petrol and diesel vehicles for two years, from July 2025 to June 2027.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The IMF estimates that these green initiatives will lead to a 30% reduction in pollution caused by transport emissions by 2030. The government has also agreed to reduce tariffs and tax incentives currently enjoyed by local automobile manufacturers. The IMF is also pushing for the opening of commercial vehicle imports, which would further liberalize the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Significant developments have been made in the new tariff policy as part of the ongoing<\/p>\n","protected":false},"author":1,"featured_media":21384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[2,19],"tags":[],"class_list":["post-21383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-pakistan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IMF agrees to slash customs, regulatory duties in new tariff policy - Rapid News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailyrapidnews.com\/eng\/2025\/05\/20\/imf-agrees-to-slash-customs-regulatory-duties-in-new-tariff-policy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF agrees to slash customs, regulatory duties in new tariff policy - 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He criticized the IMF for setting conditions that in his opinion have been affecting Pakistan\u2019s economy negatively. On the\u2026","rel":"","context":"In &quot;Pakistan&quot;","img":{"alt_text":"Shaukat-Tareen-IMF-demand-to-increase-electricity-tariff-is-unjustified-Finance-Minister-rapidnews","src":"https:\/\/i0.wp.com\/dailyrapidnews.com\/eng\/wp-content\/uploads\/2021\/05\/Shaukat-Tareen-IMF-demand-to-increase-electricity-tariff-is-unjustified-Finance-Minister-rapidnews.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":21075,"url":"https:\/\/dailyrapidnews.com\/eng\/2025\/03\/04\/pakistan-imf-enter-policy-talks-as-loan-review-nears-conclusion\/","url_meta":{"origin":21383,"position":1},"title":"Pakistan, IMF enter policy talks as loan review nears conclusion","date":"March 4, 2025","format":false,"excerpt":"Pakistan and the International Monetary Fund (IMF) have entered the policy-level phase of discussions regarding the country\u2019s ongoing $7 billion loan programme, following the completion of technical talks. 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