The government reduced tariffs by Rs. 160 billion during FY2026 under the National Tariff Policy, with the measures contributing to $1.27 billion in exports, the National Assembly Standing Committee on Commerce was informed.

Commerce Secretary said the government has provided a further Rs. 120 billion in tariff relief during the current fiscal year to lower business costs and strengthen the country’s export competitiveness.

Committee members questioned whether the latest tariff reductions would translate into higher exports. The Commerce Secretary said the effectiveness of the measures would be evaluated at the end of the financial year.

The secretary also briefed the committee on other measures aimed at supporting exporters, including the establishment of EXIM Bank and the abolition of taxes on exports.

The government has also expanded private-sector participation in the Export Development Fund Board. Government representatives now account for six of the board’s 23 members.

The committee separately considered a proposal to establish additional chambers of commerce in Karachi. Farooq Sattar suggested that the chambers could be formed on a district basis, potentially creating multiple new chambers across the city.

Committee Chairman Javed Hanif said the proposal was a new initiative. However, a representative of the Law Ministry explained that a new private member’s bill could not be taken up until an earlier draft had been either approved or rejected.

The committee decided to obtain legal opinions from the Commerce and Law ministries before proceeding with the proposal.