Islamabad: Federal Minister for Commerce Jam Kamal Khan emphasized the importance of collaboration between industry and government to stabilize the economy and shape future trade policies at the Pre-Budget Seminar for 2025-26. The seminar, organized by the Ministry of Commerce, aimed to discuss economic challenges and the roadmap for tariff rationalization.

According to a statement by Press Information Department, the minister acknowledged the difficulties faced in recent years but appreciated the resilience of the industry. He pointed to the severe economic challenges of two years ago, such as 38% inflation and high interest rates, and credited joint efforts for bringing stability. “If we compare today’s situation with two years ago, it is evident that stability has returned,” Khan remarked.

Federal Secretary for Commerce Jawad Paul highlighted the seminar’s role in shaping economic policy and fostering export-led growth. He noted that tariff rationalization has reduced production costs and attracted foreign investment, strengthening domestic industries. The National Tariff Policy 2019-24 provided significant relief to businesses, and the new policy aims to further support SMEs and emerging technologies.

The minister assured that the business community would be involved in policy formulation. “We will strive for consensus on the majority of issues,” he added. Joint Secretary Muhammad Ashfaq presented the draft National Tariff Policy 2025-30, discussing its impact and structural reforms.

Khan also discussed the involvement of sectoral councils in policy recommendations and the role of the National Economic Development Board. He reassured that while export policies are a focus, local industries would also be supported.

The seminar was part of a week-long consultative session with the industry, emphasizing private-sector leadership in economic growth. The minister highlighted the restructuring of trade institutions and praised Prime Minister Shehbaz Sharif’s dedication to economic development.

Concluding his address, Khan reaffirmed the government’s commitment to inclusive policymaking. The seminar concluded with active participation from trade bodies, chambers of commerce, and policymakers, setting the stage for further deliberations.