FAISALABAD: National Tariff Commission (NTC) is undertaking record 18 to 19 investigations after the promulgation of new ordinance issued in March 2015, said Muhammad Abbas Raza Chairman NTC.
Addressing an awareness session about recent changes in NTC laws at Faisalabad Chamber of Commerce and Industry here, he said that the ultimate objective of NTC is to provide a level playing field to the local industry in the wake of globalization. He also spelled out the structural changes made in the NTC ordinance and said that earlier it had only two members along with one chairman while now the number of its members has been increased to 4. “It is also for the first time that the professional competence of chairman and its members have been defined”, he added.
He said that NTC has two kinds of roles; one is mandatory which includes anti-dumping, countervailing and safeguard measures. NTC has authority to fix tariffs etc at its own regard while the other part of its duty is to make recommendations to government on competitiveness of the local industry.
He said that commission has also fixed timeline to resolve the issueswithin 60 days while in case of recommendations the government and commerce ministry is also bound to follow the time line of 15 days. He further told that regarding anti dumping law, a clause of lesser duty rate has also been introduced. However, it would not be applicable incase of imports under Duty and Tax Remission (DTRE) scheme.
Responding to a question, he clarified that regarding competitiveness, the tariff of gas and electricity didn’t fall within its preview. He told that commission has also prepared a checklist in connection with anti-dumping duty which will bring much needed transparency in the complicated anti-dumping laws. Responding to yet another question, he said that Pakistan has signed a one sided Free Trade Agreement (FTA) in 2006 with China which had negative repercussions on Pakistani industry. Now we are again going to ink similar agreements with Turkey and Thailand which must be made reciprocal for the benefit of our industry.
He further told that Afghanistan has also become a member of WTO and under this agreement; we are bound to give this land locked country access to the international markets. Similarly, the China Pakistan Economic Corridor (CPEC) project is also in the pipeline and we must remain cautious and take necessary measures to protect our domestic industry.
Responding to another question about the regulatory duty on imports, he said that basically it is the prerogative of finance ministry and FBR. However, now the International Monetary Fund (IMF) has raised objections on it and in near future it will become difficult for the finance ministry to clamp such duty without proper studies and analysis which falls within the domain of NTC.
He further said that NTC is fully aware of the needs of its domestic industry and it has so far conducted analysis of more the 200 trade and industry.
He asked the exporters to submit tariff related anomalies immediately so that NTC could forward it with proper recommendations for inclusion in Federal Budget of 2016-17.
Earlier, in his welcome address President Faisalabad Chamber of Commerce and Industry (FCCI) Chaudhary Muhammad Nawaz introduced Faisalabad and FCCI. He also welcomed the organization of this briefing session on NTC for the business community of Faisalabad and hoped that such informative programs will continue in future.
He told that Pakistan stands at 138 numbers as regards cost of doing business in the world and due to this reason our exports and continuously declining for the last two years. He said that NTC should play its reinvigorated role to make the local industry competitive on permanent and sustainable basis.
Senior Vice President FCCI Syed Zia Alamdar Hussain, Vice President Jameel Ahmed, Central Chairman of Pakistan Hosiery Manufacturers Association (PHMA) Dr. Khurram Tariq and Shabbir Hussain Chawla took part in the question answer session while Syed Zia Alamdar Hussain offered vote of thanks.
Later, Dr. Khurram Tariq Central Chairman (PHMA) presented FCCI shield to Chairman NTC Muhammad Abbas Raza.
