Prime Minister's Adviser on Commerce, Industries and Production, Abdul Razak Dawood said on Monday that the Commerce Ministry's budget proposals on tariff jointly drafted by Syed Ali Habib and Commerce Ministry will be ready by next month.
He was talking to a select group of journalists with the objective of improving interaction with the media and to explain what the Ministry was doing on different issues.
"We had detailed meetings with 26 sectors and initial recommendations have been prepared which will be submitted to Tariff Policy Board (TPB) in a few days," he added.
In response to a question he stated that to change the working procedure of over 40 years will consume time and will not be done so easily which is why he is completing work early instead of in May or June.
The adviser also mentioned some sectors, like footwear, electric fans iron steel, pumps, spices etc on which tariff rationalization work is either in progress or has been completed.
In reply to a question he said that the TPB has been drafted by Chairman Habib Group, Ali Habib but he will not draft it for the auto sector as he is in the industry, adding that he (Advisor) will do it personally.
Answering another question he said it is not necessary that tariffs be brought down, "We should be realistic about it. If I say give weight to revenue without caring for industry, it will be wrong and if the other side says give preference to industry over revenue collection, it will also be unfair."
Razak Dawood said that Commerce Ministry would sit with Federal Board of Revenue (FBR) to reach the ideal state, maybe within the next three budgets the direction will be corrected. Asked if he thinks PTI will remain in power till the next three budgets, he said that he always works on such an assumption which is why he works on long term policies. He maintained that if he didn't work on this assumption then policy will be short-term. On charges levelled by Sheikh Rashid against technocrats in the ECC he stated that each individual has his own view. "I know what my intent is, I know why I joined the government. I have no worries. I feel technocrats in the ECC have a very professional approach. One thing they do have is job knowledge but this is not enough, intent should be fair too," he maintained.
On a question as to why the ECC imposed a ban on wheat exports but not on Suji and Maida, he said that Pakistan is "leaking cane, smuggling is a two-way street and that's a problem. We are not a disciplined nation."
In reply to another question, he said, initially people said that there would be no impact of coronavirus on trade with China. However, now businessmen are facing delays in completing documents due to which they have to pay damages. He said trade with China has been affected definitely which is one of the top three export destinations for Pakistan but insisted that exports target will be achieved this month, as China is not Pakistan's main destination though it is an important partner. He said, up to January there was 3 percent growth in value of our exports at a time when our competitors have experienced negative growth.
"If shoes and other products do not come from China, it will be good as Pakistan's industry will become functional," he further added.
Answering another question, he said that the issue of textile power tariff sector will be resolved very soon.
Dawood said he will give his point of view on the monetary policy in the forthcoming meeting of the monetary and fiscal policy board. An insider told this scribe that he, in all probability, would recommend easing the monetary policy.
He also briefed the media about the outcome of Look Africa Policy. Razak Dawood stated that the government would further speed up its efforts to penetrate the African market which is a big one. In the months to come more efforts will be made in the regard, he concluded.
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