ISLAMABAD: The local industry of the country would be protected even after phasing out of the negative list with India that is expected in December of the current year.
After phasing out negative list, "we will shift to sensitive list under South Asian Free Trade Agreement (SAFTA) and this agreement was made in provision of World Trade Organization (WTO)", said an official in the ministry of commerce while talking to APP.
Of 1200 items in negative list, the sensitive list includes 700 items which were finalized after developing consensus with India,he added.
Moreover, the sensitive list also covers major sector including automobile, pharmaceutical, agriculture and textiles.
These items carries import duty from 25 per cent to 80 per cent whenever any of these items is imported from India.
Quoting example of vehicle, he said that if any car was imported from India, its cost would be equal to almost local manufactured unit after paying duties.
Besides, the local industry is under progress of making more competitive before phasing out negative list.
Automobile sector is trying to transfer from Euro-I to Euro-II to compete the Indain market.
European Countries has started to offer discount on the price of machinery after Pakistan took trade initiatives with India.
Recently Germany has given a discount of 20 per cent on machinery which was imported by the Pakistani Importer based in Karachi.
Not any country in the World can be discriminatory in trade with any country under World Trade Organization (WTO), he added.
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