National Tariff Commission (NTC) Chairman Naeem Anwar has given assurances to businessmen that an NTC team in Islamabad will ponder over the issues highlighted by Karachi Chamber of Commerce and Industry (KCCI) and recommendations will be given to the government for rectifying them in the federal budget for 2024-25.
Speaking at a meeting during his visit to the KCCI, he advised the chamber to submit details of all issues in writing along with budget proposals at the earliest, according to a statement issued on Monday. At the huddle, the businessmen pointed to the challenges like anomalies in import-cum-export tariffs, anti-dumping duties and other countervailing measures.
“No matter to whom the KCCI sends its budget proposals in Islamabad, these are forwarded to the NTC for review by the commission’s technical team, which carefully analyses, assesses repercussions and, if found favourable for the economy, forward them to the government for inclusion in the budget,” Anwar said.
He emphasised that the NTC, which operated under the NTC Act 2015, was duty-bound to get three of its laws effectively implemented, which included the anti-dumping law, subsidies and countervailing law and safeguard measures to ensure growth of the domestic industry, support the manufacturing sector and obstruct unfair trade practices in imports.
He said the budget compilation process was currently underway at the NTC, which was receiving proposals from various stakeholders, yet he felt it necessary to visit the KCCI for having face-to-face interaction with the business community to discuss and better understand their tariffs-related challenges and seek suggestions.
Answering a query, the NTC chairman said “once a case has been approved by the NTC, it leads to the imposition of anti-dumping duty for a period of five years, which may vary from 5% to 60% and discourages imports of any specific product to support the domestic industry.”
“Similar is the case with the countervailing measures as they are also imposed for a period of five years,” he said, adding that thanks to the NTC’s anti-dumping and countervailing laws, several businesses had registered good growth.
After listening to the hardships being faced by representatives of the paper and packaging industry, yarn merchants, automobile industry and others, he advised them to sit with the NTC team in Islamabad to minutely discuss all the issues arising due to unfair tariffs so those could be reviewed and relief could be provided, wherever needed.
Published in The Express Tribune, April 23rd, 2024.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ