Pakistan, Aug. 16 -- The government has approved cuts on import tariffs for about 300 products. Federal Commerce Minister Jam Kamal told the Senate these changes aim to boost industry and exports. The tariff cuts will lower costs for consumers and improve access to raw materials for local producers.

Kamal explained that the tariff reductions mainly target products not made in Pakistan. Duties on 900 other goods will remain unchanged under the National Tariff Policy. Previously, some tariffs were as high as 40 percent. The new structure will ease trade and reduce costs gradually.

The reductions will be phased in over the next five years. Some cuts will begin within a year, while others will take longer. This is the first time Pakistan ha...