Govt. is mulling to reduce customs and regulatory duties on import of more than 500 raw materials used by export-oriented industry in the upcoming budget of FY19 to boost exports. Commerce division is currently working on the formulation of a five-year strategic trade policy framework 2018-23 in consultation with the stakeholders. Inviting feedback on the proposed tariff structure from all the stakeholders by Mar. 28, 2018, Commerce division has stated that immediate rationalization of tariff will be considered on 515 tariff lines in the short term while a comprehensive tariff policy for industrial expansion including the medium and long-term measures is being developed.