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Govt increased import duties to depress imports: Senate informed

ISLAMABAD: The Senate was informed on Friday that the government had increased import duties to cut imports. Adviser to Prime Minister on Commerce and Textile Abdul Razzaq Dawood told the house during question hour that import substitution policy had also been launched in order to increase domestic production and exports. He said duties on raw material would be reduced to support and strengthen the manufacturing sector. Razzaq Dawood said oil import substitution was a long term policy. He said refining capacity of…