National Tariff Policy 2019 24

Tariffs What Is The Role Of Tariffs In A Modern Economy? Tariffs May Seem An Easy Source Of Revenue, But They Do Have Real Consequences For The Economy. The Use Of Tariffs Makes Imported Goods More Expensive And Can Be Used As A Means To Prevent Exchange Rate From Fully Adjusting To Market Value Reducing Incentives For Export While Increasing Incentives For Import Substitution. Tariff Policy Can Thus Affect The Product Mix Of Country Which In The Complex Globalized World Of Today Determines Its Place In The Global Value Chain. In This Vein It Is Very Encouraging To See Ministry Of Commerce (Moc) Taking Concrete Steps To Develop A Coherent Vision For Tariff Policies And Clearly Laying Out Important Tariff Policy Goals. This Policy Viewpoint Has Benefitted From The Invaluable Contributions Of Dr. Manzoor Ahmed And Dr. Jamil Nasir. Dr. Durre Nayab And Dr. Nadeem Ul Haque’S Input On Refining Earlier Drafts Is Greatly Appreciated. Ms. Uzma Zia And Dr. Hafsa Hina Contributed Content To Earlier Drafts Of This Viewpoint. While The Viewpoint Reflects The Views Of Pide, However And Errors And/Or Omissions Are Solely The Authors.