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The business community should discourage import culture and promote investment and industrialization: Razak Dawood

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KARACHI: Abdul Razak Dawood, Advisor to Prime Minister on Commerce has urged the business community for not to promote import culture in the country.

He was addressing at members of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday. He said: “The business community should discourage import culture and promote investment and industrialization,” he said.

The advisor said that the new government had formulated draft national tariff policy and it would be soon introduced for the business community. The advisor further said that the points of the policy would be incorporated in the next budget.

He assured the business community that the present government was bringing reforms in the Federal Board of Revenue (FBR) and most of the issues of the business community would be resolved.

He further said that the government was formulating industrial policy on the basis of sectors.
Razak Dawood said that increasing gas tariff was one of the difficult decisions of the present government. “We have no other option,” he added.

Commenting on the proposal of reducing export duties, he said that higher duties on imported raw materials were adding to the manufacturing cost.

He said that China was ready to assist Pakistan in trade deficit issue. He said Prime Minister Imran Khan was visiting China from November 02, 2018 and some progress would be made related to export to China.

“At present, we are only focusing on improving exports. In a later stage we can think about concessions to imports,” he said.

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