Chairman NTC Seeks Budget Proposals From KCCI

Chairman National Tariff Commission (NTC) Naeem Anwar, Monday, advised Karachi Chamber of Commerce and Industry (KCCI) to submit budget proposals along with details of all issues in writing at the earliest

KARACHI, (UrduPoint / Pakistan Point News - 22nd Apr, 2024) Chairman National Tariff Commission (NTC) Naeem Anwar, Monday, advised Karachi Chamber of Commerce and Industry (KCCI) to submit budget proposals along with details of all issues in writing at the earliest.

The chairman NTC, while speaking at a meeting during his visit to KCCI, said that budget proposals submitted by the stakeholders were forwarded to NTC for review by the Commission’s technical team which carefully analyzes, assesses repercussions and if found favorable for the economy, forward the proposals to the government for inclusion in the budget, said a statement issued here.

President KCCI Iftikhar Ahmed Sheikh, Vice President Tanveer Barry, Chairman Special Committee for Budget Proposals Muhammad Ibrahim Kasumbi, Former Presidents Majyd Aziz and Junaid Esmail Makda, KCCI Managing Committee Members and other representatives of various trade bodies also attended the meeting.

Naeem Anwar listened to the grievances being faced by the business community and assured that issues highlighted by Karachi Chamber will be reviewed by the NTC team and recommendations will be given to the government for rectifying the same in the Federal Budget 2024-25.

He stated that NTC, which operates under NTC Act 2015, was duty-bound to get three of its laws effectively implemented which include anti-dumping law, subsidies countervailing law and safeguard measures to ensure growth for domestic industry, support manufacturing sector and obstruct unfair trade practices in imports.

“We try to ensure a coherent and integrated industrial and commercial policy for maximum economic growth,” he underscored adding that NTC’s anti-dumping and countervailing laws contributed to growth of several businesses in the country.

The budget compilation process was currently underway at NTC and the Commission has been receiving budget proposals from various stakeholders, Naeem Anwar said adding that purpose of the visit to KCCI was having face-to-face interaction with the business community to discuss and better understand their tariffs-related issues and seek suggestions.

President KCCI, speaking on the occasion, appreciated the endeavor of Chairman NTC to amicably resolving issues of business community and hoped that the NTC would consider proposals given by KCCI and recommend the government measures favorable for the economy.

Ibrahim Kasumbi, in his remarks, emphasized adoption of prudent measures for economic stability in consultation with stakeholders and also stressed on introducing a policy for enhancing production and export, provision of a level playing field to all businesses by abolishing exemptions and concessions given to certain areas and sectors.