Systemization of tariff structure was proposed by the National Tariff Policy Board, however, the major implementation is particularly for the textile sector, targeting the raw materials. The observed structure of the textile sector will undergo an ample observation of the TPC (Tariff Policy Centre). The exhortations will be given to the board for further action, said an official statement chaired by Razak Dawood, the Commerce Advisor, during the board meeting.
Various other proposals from various other sectors were received by the Ministry of Commerce, which proposed the systemization of the tariff. In proper negotiation and consultations with the Ministry of Commerce, TPC will present the future predictions of the systemization beside the board. However, the predictions and for certain a roadmap, it will be considered and provided feedback from the board accordingly.
Mr. Razak Dawood explained that the systemization of the textile sector in a highly complex and time taking task. The implementation of the National Tariff Policy 2019-24 will possibly take more time. He concluded with remarks, that after proper considerations and analysis of top sectors, a three-year systemization/rationalization plan is appointed. Furthermore, this plan must be finalized and imposed as soon as possible. Tariff related acts must promote development with equity and bring competitiveness in the local industry. However, this will result in the growth of exports proudly termed as the ‘Made in Pakistan’.
