The Federal Government’s new 2026 fiscal policy reducing import tariffs on drugs, rice, and vehicles has drawn mixed reactions from key sectors.
Pharmaceutical stakeholders welcomed the move, saying lower tariffs could improve access to essential medicines. However, they warned that poor regulation, counterfeit drugs, and weak support for local manufacturing could limit the benefits.
In contrast, rice farmers strongly opposed the policy, arguing that cheaper imports would undercut local production and discourage farming amid rising input costs.
Players in the automobile sector also expressed concern that reduced tariffs on imported vehicles could undermine local assembly plants, threaten investments, and lead to job losses.
Experts across sectors called for complementary policies, including stronger regulation, support for local industries, and clearer implementation strategies to ensure the reforms achieve their intended impact.
