ISLAMABAD – On a proposal put forth by Commerce Minister Khurram Dastgir Khan, the World Bank has agreed to provide technical assistance to Pakistan for the development of a new tariff policy structure which would be aimed at increasing overall exports coupled with revenue generation.
The minister made this proposal while chairing a meeting with a high-level World Bank delegation led by its Country Director, Patchamuthu Illangovan and Trade and Competitiveness Senior Director Anabel Gonzalez. During the meeting, it was decided that the new tariff policy proposal will be developed by the Ministry of Commerce and all technical assistance will be provided by the World Bank.
The minister nominated Trade Policy Director General Dr Nazim Latif as team leader from the ministry to initiate the deliberations.
Speaking on the occasion, the minister said that in order to make Pakistani export products more competitive in the world, there was a need to increase export competitiveness not only at the ministry level but at the government level, as a whole.
He told the delegation that Pakistan’s macroeconomic situation has improved considerably, terrorism incidents have gone down immensely and energy crisis has been arrested on the sustainable basis.
The minister was of the view that Pakistan has made substantial progress in ease of doing business in the country and will continue improving by introducing required legislation and administrative measures.
Gonzalez agreed to the point of view and said that the World Bank would be happy to see Pakistan is going in the right and upward direction and would provide all required technical assistance in this regard.
Illango was of the view that to support Pakistan for developing a tariff policy structure afresh, the World Bank can also engage international trade experts who have success stories at their credit from the contemporary economies.