Malaysian CG calls for reviewing tariff increase of air conditioners

KARACHI: Consul General (CG) of Malaysia Khairul Nazam Abd Rahman, while expressing concerns over the decision taken by Pakistan’s Ministry of Commerce to increase tariff (Regulatory Duty) on import of air conditioners, said that the decision to raise tariffs on import of air conditioners and other such products was notified through an SRO which is a violation of Pakistan-Malaysia Free Trade Agreement therefore it needs to be reviewed.

Speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry, the Malaysian CG said that instead of increasing tariffs through imposition of Regulatory Duties, the government may come up with some kind of system in which a win-win situation is created and Malaysian exporters are not affected.

Nazam further commented that although Pakistan and Malaysia have signed an FTA but not much momentum in trade has been witnessed which also requires special attention and efforts from both sides. “Although trade has been improving but at a relatively slow pace. Trade volume improved marginally by just 2.5 percent last year”, he added.

He said that this was the right time to ‘connect’ and work collectively as new governments have taken charge of the country’s affairs in Pakistan and Malaysia.

Malaysian CG emphasised on regular exchange of trade delegations and participation in trade promotional activities taking place in both the countries throughout the year which would surely help in furthering the existing relations between the two brotherly countries.

Highlighting some of the potential areas, The CG advised the Pakistan exporters to look into the possibility of exporting Basmati, IRRI-6 rice and mangoes to Malaysia which were being offered at competitive prices while the Malaysian business community can also look into the possibility of venturing into various infrastructural projects in Pakistan, particularly the 5 million houses scheme announced by the government which was a good opportunity.

Success stories were needed to reap the interest of Malaysian business community in numerous opportunities available in Pakistan, he added.