National Tariff Commission (NTC) has evolved criteria for protecting domestic industry. This was stated by NTC's chairman Abbas Raza while speaking at a meeting of Korangi Association of Trade and Industry (Kati) here on Wednesday. He also disclosed that a policy for improving competitiveness among domestic industry in local as well as in international markets was also being framed and the same will be shared with the Kati.
Discussing implications of Free Trade Agreements (FTA) on Pakistan's industry, he explained that three defined basic parameters of FTA are: reciprocity by way of offering equal concessions to each other, FTA should be mutually advantageous for both countries and individual needs of the domestic industry must be considered. Briefing members of the Kati about the role and enhanced functions of NTC under Section 8 of new National Tariff Commission Act, 2015, he said that the composition of the NTC has been increased from one chairman and two members to one chairman and four members. Besides, the qualification and experience for chairman and members of NTC have also been laid down in National Tariff Commission Act, 2015.
He said that the issue of lack of quorum has been resolved in new National Tariff Commission Act, 2015, wherein the quorum of NTC has been prescribed as one chairman and one member. Abbas said NTC has initiated 13 antidumping investigations since March 2015 and has taken provisional measures in four cases. Besides, the NTC was also providing assistance to Pakistani exporters facing antidumping or countervailing investigations abroad, he added.
Earlier, president Kati Zahid Saeed apprised the NTC chairman about issues relating to customs valuation, tariff anomalies, no duty drawback to pharmaceutical products (medicines) on exports, saying that under such circumstance, Pakistan's exports of medicines was just around US $169 million as against US $22 billion of India. Kati's senior vice president Saleem-uz-zaman, vice president Syed Wajid Hussain, FPCCI's vice president Waseem Vohra and senior members - Zubair Chhaya, Malik Khuda Buksh, Shujat Ali Baig, Tariq Islam Baghpati, Faraz-ur-Rehaman and other industrialists also participated in the discussion.
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