Pakistan not opted to react hostilely on Indian withdrawal of MFN status : Advisor

RAWALPINDI, Mar 06 (APP):Advisor to Prime Minister on Trade, Textile and Investment Razak Dawood Wednesday said that Pakistan,being a responsible state, did not opt to react hostilely on India’s withdrawing of most favorite nation (MFN) status to Pakistan.
He said “We are assessing the situation as India has raised the custom duty to 200% on all Pakistani goods and commodities.”
Addressing 2-day All Pakistan Chambers Presidents’ Conference being organized by the Rawalpindi Chamber Of Commerce and Industry (RCCI) at a local hotel, Dawood said that the government’s five-year national tariff policy will bring down tariffs on raw material and machinery imports for export-based industries.
The policy in consultation with all stakeholders has been finalized and soon will be approved by Cabinet,he added.The Advisor said that the Prime Minister has been vocal to get consultations of traders, industrialists while finalizing the trade and tariff policies.
He said that on directions of PM, Federal Board of Revenue (FBR) has been advised to put a check on unnecessary harassment of tax payers.
The Government has taken up multiple steps towards ease of doing business, rationalizing of taxes, online tax payments and expressed hope that mini budget will be approved from Parliament during this session, he
added.
He appreciated RCCI efforts for organizing the conference and lauded its role in promoting business activities in the region through exhibitions, adding expo centers will also be set up in Rawalpindi, Islamabad and Faisalabad.
Earlier, RCCI President Malik Shahid Saleem said that the major aim of this conference was to develop a common platform for all Chambers and trade associations to raise economic issues at national level, providing suggestions/recommendation to the government related to trade policy, business environment and all issues affecting businesses directly or indirectly.