World Bank to help Pakistan design new tariff policy

The policy will increase national exports and govt revenues


Peer Muhammad November 08, 2016
Through Disbursement Linked Indicators mechanism (DLI) under which the funds will be disbursed to provinces on achievement of desirable results after verification by the federal EPI through a third party. CM. PHOTO: FILE

ISLAMABAD: The World Bank has agreed to provide technical assistance to Pakistan in its efforts to frame a new tariff structure aimed at giving a boost to national exports and government revenues.

The offer of technical assistance came after a proposal in that regard was floated by Commerce Minister Khurram Dastgir in a meeting with a high-level delegation of the World Bank.

World Bank approves $1.02b package for Pakistan

The delegation was led by World Bank Country Director Patchamuthu Illangovan and Senior Director Trade and Competitiveness Anabel Gonzalez. “It was decided that a new tariff policy will be designed by the Ministry of Commerce with technical assistance from the World Bank,” said an official of the Ministry of Commerce.

The commerce minister nominated Dr Nazim Latif, Director General Trade Policy, as the team leader who would initiate deliberations on the tariff policy.

The minister emphasised the need for increasing export competitiveness not only at the commerce ministry but also in the entire government in order to make Pakistani products more competitive in the world market.

He told the delegation that Pakistan’s macroeconomic indicators had improved considerably, terrorism incidents had gone down sharply and energy crisis had been tackled on a sustainable basis.

He stressed that Pakistan had made tremendous progress in the area of ease of doing business and would continue to improve by introducing required legislation and administrative measures.

Gonzalez responded that the World Bank would provide all the necessary technical assistance, which could increase.

Next five years: WB clears $300m loan for boosting Punjab education

Illangovan suggested that in order to support Pakistan in developing the new tariff structure, the World Bank could also engage international trade experts having success stories to their credit from the contemporary economies.

In a bid to shield the domestic industry and Pakistan’s trade interests, the commerce minister had announced at a press conference on Monday that the National Tariff Commission had become fully functional after revamping of its structure and laws.

“The commission has been equipped with required human, financial and technical resources,” he said.

Published in The Express Tribune, November 9th, 2016.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

 

COMMENTS (1)

Zahid | 7 years ago | Reply people sitting at WB will try to protect the interests of their Bosses of developed countries (donors) in the name of providing technical assistance to developing countries like Pakistan. That's why they are coming forward themselves
Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ