Federal Minister for Commerce, Makdoom Amin Fahim has said that trade laws will be improved in consultations with business community. Addressing the members of Karachi Chamber of Commerce and Industry (KCCI) here on Friday he said, "Government will move forward after taking all the stakeholders into confidence."
The minister was of the view that after facing serious economic crisis, the country economy has started showing sings of improvement. The government is making efforts to reduce cost of doing business to boost investment and manufacturing activities, besides increasing exports, he added. He advised the business community to improve quality of their products to become more competitive in national and international markets.
Amin Fahim urged the business community to concentrate on boosting trade with neighbouring countries, which is more beneficial as compared to far-flung countries of the world. Referring to Afghan Transit Trade Agreement (ATTA), the minister informed that only a day before a meeting was held on ATTA with his Afghan counterpart and the issue was discussed at length.
Amin Fahim said both the sides are examining various options and a comprehensive decision in this regard would be taken keeping the interests of both the countries in mind and safeguarding the national interest of the country. Regarding access to European Union (EU) and US markets, he informed that negotiations on the issue are underway. The minister noted that Pakistan is a frontline state in the war against terrorism and suffered around 40 billion dollars loss in combating terrorism.
He was of the view that Pakistan should get its due return for co-operation in war against terrorism in the shape of market access. "We don't want aid we want trade," he added. Talking to journalists after the meeting about quality of imported sugar, Amin Fahim said refined sugar was imported by Trading Corporation of Pakistan (TCP) after floating international tender and fulfilling all the requirements.
Chairman Businessmen Group and former President KCCI, Siraj Kasim Teli sought implementation of the provisions of TOO 2007 and said that all the rules and regulations laid in the Ordinance should be followed in the light of the recommendations of former Justice Saleem Akhtar led commission.
The provisions of TOO 2007 are restricting registration of fake and paper-based trade bodies and it has contained the mushroom growth of fake and paper-based trade bodies, which had necessitated the promulgation of the Ordinance. He further stated the Ordinance has already been implemented that proved the demand and promulgation of the Ordinance was genuine. "Now some of the bogus associations and trade bodies have managed to get license and these should be banned," he demanded.
Advisor to Chief Minister Sindh on Investment, Zubair Motiwala emphasised the need of examining transit trade agreements of different countries including India and Nepal before finalising ATTA. He suggested that goods imported under ATTA should pay duty at port of entry in Pakistan and the same be reimbursed at the exit customs post at Afghan border. This process will help reduce smuggling, he added.
President KCCI, Abdul Majid Haji Mohammad said that ATT has been massively abused by the unscrupulous elements to import products above their actual demand in Afghanistan meant only to push back the products into Pakistan. The majority of the imported products booked for Afghanistan never reach there and re-routed from the border areas of the province of Khyber Pakhtoonkhwa and Balochistan.
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