ISLAMABAD: (Business Reporter) The Advisor to Prime Minister on Trade, Textile and Investment Razak Dawood has said that Pakistan being responsible state did not opt to react hostilely on India’s withdrawing of most favorite nation (MFM) status to Pakistan. We are assessing the situation as India has raised the custom duty to 200% on all Pakistani goods and commodities.
Addressing two days All Pakistan Chambers Presidents’ Conference being organized by the Rawalpindi Chamber Of Commerce and Industry (RCCI) at a local hotel in Islamabad, Razak Dawood said that the government’s five-year national tariff policy will bring down tariffs on raw material and machinery imports for export-based industries. The policy in consultation with all stakeholders has been finalized and soon be approved by Cabinet and Prime Minister, he added.
Advisor said that the Prime Minister has been vocal to get in consultations with traders, industrialists while finalizing the trade and Tariff policies. He said that on directions of PM Federal Board of Revenue (FBR) has been advised to put a check on unnecessary harassment of tax payers in the name of tax collections.
The Government has taken up multiple steps towards ease of doing business, rationalizing of taxes, online tax payments and expressed hope that mini budget will be approved from Parliament during this session.
He appreciated RCCI efforts for organizing the conference and lauded their role in promoting business activities in the region through exhibitions and added that expo centers will be established in Rawalpindi, Islamabad and Faisalabad.
Earlier, RCCI President Malik Shahid Saleem said that the major aim of this conference was to develop a common platform for All Chambers and Trade Associations to raise economic issues at national level, providing suggestions/ recommendation to the government related to trade policy, business environment and all issues affecting businesses directly or indirectly, he added.
Malik Shahid Saleem said that All Pakistan Chamber’s Presidents Conference is the most appropriate platform to raise economic issues and talk about the business community’s concerns. He said that the proposed agenda highlights for the upcoming conference includes SME policy, Trade policy, China Pakistan Economic Corridor (CPEC), Public Sector Development Program (PSDP 2018-19) and Ease of Doing Business.