A delegation of Pakistan Business Council (PBC) headed by the Chief Executive Officer Kamran Y Mirza visited the National Tariff Commission (NTC) and held a detailed meeting with Chairman, NTC, Muhammad Abbas Raza, Members and officers of the commission.
The chairman highlighted the recent measures adopted by the government to bring about reforms in the NTC through enhanced mandate.The chairman NTC further shared with the delegation about the promulgation of National Tariff Commission Ordinance, 2015 and the trade remedy laws by the government and assured the delegation that the NTC would extend all possible assistance to the domestic industry.
The chairman reiterated the need for revival of domestic industry by providing even-playing field viz-a-viz regional countries. The NTC appreciated the role of the PBC, which represents major industrial sectors of Pakistan, in economic revival efforts.
Raza elaborated on the importance of an integrated and sustainable economic strategy to address all issues being faced by the domestic industry particularly the increasing cost of doing business in Pakistan.
The chairman pointed out that the emerging global trends indicate that the tariff is not the only measure for improving competitiveness but the production of sophisticated goods in compliance with Sanitary and Phyto-Sanitary Standards (SPS)/Technical Barriers to Trade (TBT) is equally important for strengthening industrial competitiveness and export sector. The chairman also informed the PBC that on the directive of the Ministry of Commerce, the NTC is carrying out an exercise on tariff rationalisation to make Pakistan Customs Tariff an economic tool for source allocation, for the achievement of industrial and other economic policies.
The Chairman NTC emphasised that while negotiating tariff concessions for free trade agreements, the fundamental principles of reciprocity, mutual advantages and considering the individual needs the industry, which are in line with the WTO trade regime. He reiterated the NTC's resolve for timely assistance to the domestic industry for tariff protection, unfair trade practices adopted by foreign exporters and against the surge of imports of any specific product.
The PBC's CEO assured the chairman that the PBC being an economic and trade think-tank and representative of major proportion of the domestic industry and businesses would prefer to work in collaboration with the NTC in the light of the new mandate assigned by the government. It was also agreed to review various trade agreements signed by Pakistan to evaluate their impact on the domestic industry so that the government could be provided feedback to ensure appropriate protection to the domestic industry and export sector.-PR