The Commission is amending the Act not only to make it business friendly but also to help local industry for its competitiveness, he added. LCCI President Abdul Basit and Vice President Muhammad Nasir Hameed Khan spoke on the occasion and exchanged views on tariff matters, anti-dumping duties, countervailing duties and safeguard measures.
NTC Member Robina Ather, LCCI Executive Committee Members Awais Saeed Piracha, Mian Zahid Javed, Zeeshan Khalil, Mian Abdul Razaq, Moazam Rasheed, Tariq Mahmood, former executive committee members Kamal Mahmood Amjad Mian, Tanvir Ahmed Sufi and experts from different sectors also attended the seminar. The NTC Chairman said that previously the Commission had mainly been involved in technical work related to tariff rationalisation and removal of tariff anomalies. After the year 2000, main focus was diverted on administering trade remedy laws, he said.
The Commission also advised the government on tariff/trade measures that provide assistance to the domestic industry on trade remedy actions faced by Pakistani exporters and rationalisation of tariff, tariff reform and removal of tariff anomalies, he added.
LCCI President Abdul Basit said the business community welcomes the reforms in National Tariff Commission Ordinance 2015, Anti-Dumping Duties Ordinance 2015, Countervailing Duties Ordinance 2015 and Safeguard Measures Ordinance 2015. It will not be wrong to say that in last couple of decades, the dynamics of international trade have significantly changed.
"One cannot expect good things to happen in your favour through signing free or preferential trade agreements, treaties to avoid double taxation and regional trade agreements," he added.
These agreements only help expand trade relations with other countries but in order to bring rationalisation in tariff structures and address the ground realities, there has to be a strong backing of legal framework, he said, adding the NTC Ordinance 2015 will largely play its role in putting Pakistan at better place while negotiating tariff concessions in line with the WTO trade regime. Abdul Basit said the Commission will have to take necessary measures to deal with emerging global trends in a befitting manner.
"We expect that all your efforts would lead to improve the industrial competitiveness of the country, particularly the export-oriented industry," he said. The participants were also briefed about the difference between the role of National Tariff Commission and the Federal Board of Revenue in policy formation regarding tariff determination.
Copyright Business Recorder, 2017