ISLAMABAD: World Bank has agreed to provide technical assistance to Pakistan for the development of a new tariff policy structure.
A high-level World Bank delegation led by its Country Director Patchamuthu Illangovan and Senior Director, Trade and Competitiveness Ms Anabel Gonzalez here on Tuesday met Minister for Commerce Engineer Khuram Dastgir Khan.
During the meeting, it was decided that the new tariff policy proposal would be developed by the Ministry of Commerce and all technical assistance would be provided by the World Bank.
The minister nominated Dr Nazim Latif, Director General Trade Policy as team leader from the ministry to initiate the deliberations.
Speaking on the occasion, the minister said that in order to make Pakistani products more competitive in the international market, there was a need to increase export competitiveness.
He told the delegation that Pakistan’s macroeconomic situation had improved considerably as energy crisis had been addressed on a sustainable basis.
The minister viewed that Pakistan had made substantial progress in ease of doing business and would continue improving by introducing required legislation and administrative measures.
Ms Anabel Gonzalez said Pakistan’s economy was progressing and it was going in the right direction. The World Bank would provide all the required technical assistance in that regard, she added.
The World Bank Country head said that the bank would also engage international trade experts who had success stories to their credit from the contemporary economies in tariff policy making process.