The Additional Customs Duty (ACD ) is a new law that was passed by the Pakistani government in 2020. The ACD imposes an additional customs duty on a variety of goods imported into Pakistan. The purpose of the ACD is to raise revenue for the government and to protect local industries from foreign competition.
The ACD has been met with mixed reactions. Some people believe that the ACD will be beneficial for the Pakistani economy, while others believe that it will have a negative impact.
Arguments in favor of the ACD
There are a number of arguments in favor of the ACD . Proponents of the ACD argue that it will:
- Raise revenue for the government. The ACD is expected to generate billions of rupees in revenue for the government. This revenue can be used to fund government programs and to reduce the budget deficit.
- Protect local industries from foreign competition. The ACD will make it more expensive for foreign companies to import goods into Pakistan. This will give local companies a competitive advantage and help to protect them from foreign competition.
- Create jobs. The ACD is expected to create jobs in the manufacturing and service sectors. This is because the ACD will make it more profitable for businesses to operate in Pakistan.
Arguments against the ACD
There are also a number of arguments against the ACD . Opponents of the ACD Act argue that it will:
- Increase the cost of living. The ACD will make it more expensive for consumers to buy goods. This is because the ACD will be passed on to consumers in the form of higher prices.
- Reduce economic growth. The ACD will make it more expensive for businesses to operate in Pakistan. This will discourage investment and reduce economic growth.
- Increase smuggling. The ACD will make it more profitable for smugglers to bring goods into Pakistan illegally. This will reduce government revenue and harm legitimate businesses.
The ACD is a new law that has the potential to have a significant impact on the Pakistani economy. It is too early to say for sure whether the ACD will be beneficial or harmful. However, it is important to carefully consider the arguments for and against the ACD before making a judgment.