The government has finally prepared a national tariff policy to boost trade competitiveness and enhance consumer welfare. Titled ‘National Tariff Policy 2023’, it is the first-ever tariff policy of the country, which is expected to remove the anomalies in the existing tariff structure and highlight the country’s trade-related priorities.

The policy has also set a nine-point goal in this connection that includes facing the challenges after the country graduates from the Least Developed Country (LDC) category in 2026; expanding and diversifying exports by cutting the reducing the anti-export bias; ensuring a predictable tariff regime to attract foreign and local investments; and enhancing the country’s participation in regional and global value chains. The goals also include the reduction of anomalies in the prices of the products in the local market and a load of additional protection for consumer welfare.

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