Federal Finance Minister Shaukat Tarin has informed the business community that European Union (EU) has agreed to start negotiations with Pakistan on generalised system of preferences (GSP) plus status for the country in December this year. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI) on Thursday night, he said that Pakistan is trying to convince EU to start dialogue on the issue early.
He said that beside EU, President Obama had also agreed to start negotiations on the issue of market access with Pakistan. Recalling his meeting with President Obama of USA, Tarin said that the President had asked him what Pakistan wanted from US government. "I said, only three things, including trade, market access and markets access". The finance minister agreed with a suggestion that the government should prepare a charter of economic growth.
Appreciating the suggestion, he said that when there is a charter of democracy why not we can prepare a charter of economic growth on similar lines. He said that economic roadmap would be prepared in consultation with business community, political leaders, government officials and others. It might be presented in the National Assembly for its approval, he added.
Tarin said that the economic roadmap would be for all segments of the society. He said that the government is not only interested to prepare policies in consultation with all stakeholders but is also interested to implement them and see results. The finance minister also sought help of the business community in implementation of the policies.
He said that the country was moving towards bankruptcy when the present government took over. Nine-point agenda was prepared to stabilise economy and implement the agenda step by step to achieve goals so that the country could have a sound economic base.
He that as and whenever Pakistan approached the IMF, the World Bank and other financing agencies "we feel shame and it is impossible for us to contact all these agencies for financial assistance". Referring to recently announced textile policy, Tarin said it was prepared in consultation with all stakeholders, and expressed hope that it would fulfil all expectations of the business community.
About NFC award, he said that discussion on the award was likely to be initiated from 27th or 29th of this month, and the award was likely to be finalised in September. The finance minister reiterated that all those who have income of more than exempted limit must pay taxes, including agriculture sector.
He congratulated KCCI on completing its 50 years, and also greeted general public on celebrating 62nd birth anniversary of the country. Former President of KCCI, Siraj Kasim Teli, urged the government not to make changes in policies or scrap previous government policies without consulting the stakeholders. KCCI President Anjum Nisar said that efforts must be made to improve tax-to-GDP ratio. He appreciated the textile policy and said that it would help boost exports of textiles.
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