Pakistan Business Council team visits NTC

Islamabad: 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 meeting with NTC Chairman Muhammad Abbas Raza, members and officers of the commission, says a press release.
The chairman highlighted the recent measures adopted by the government to bring about reforms in the NTC through enhanced mandate. The NTC chairman further shared with delegation, the promulgation of National Tariff Commission Ordinance, 2015 and the trade remedy laws by the government and assured the delegation that 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 PBC, which represents major industrial sectors of the country, in economic revival efforts.
Mr. 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 the country. 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 PBC that on the directive of 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 achievement of industrial and other economic policies.
The NTC chairman 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 WTO trade regime. He reiterated 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 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 NTC in the light of the new mandate assigned by the government.