ISLAMABAD: The Senate Standing Committee on Commerce has directed the Federal Board of Revenue (FBR) to leave the issue of tariff determination for the next budget.

Presiding over a meeting of the committee on Wednesday its Chairman Zeeshan Khanzada asked the FBR not to bypass the ministry of commerce while determining the tariff rates as observed in the money bill, 2021.

Commerce Secretary Sauleh Farooqi informed the committee that the tariff compositions for the financial year 2022-23 will be finalised before March 31.

Deputy Chairman of the Senate Mohammad Mirza Afridi inquired about the mechanisms through which the tariff is determined.

The commerce secretary informed the meeting that the tariff compositions were determined in consultation with the National Tariff Commission and Trade Economist Team.

Mr Khanzada gave directives to seek information on the textile policy review in the next meeting.

The committee was informed that Mexico had imposed a ban on rice import from Pakistan due to the detection of Khapra beetle in some shipments. In December 2014, a technical expert from Mexico visited Pakistan. However, the ban was not lifted.

Senator Saleem Mandviwalla said that rice stock worth $600 million was present in Mexico when the ban was imposed.

“All other countries, except Pakistan, were able to get the ban lifted,” he added.

Adviser to the PM on Commerce Abdul Razak Dawood briefed the committee on EU GSP-Plus status. He said the Fourth Biennial Review of GSP Plus (2020-22) has commenced with the EU for monitoring the implementation of the 27 UN conventions.

The EU Monitoring Mission is expected to visit Pakistan next month.

Published in Dawn, January 13th, 2022

Opinion

Editorial

24 Jan, 2022

Anti-extremism policy

HAD there been more far-sighted policymaking on the part of the state and an understanding of how religious ...
Government’s silence
Updated 24 Jan, 2022

Government’s silence

A MAJOR trial is underway in London during which Pakistan has repeatedly been mentioned as the place where payment...
24 Jan, 2022

Cutting mangroves

FOR Karachi, the mangrove cover along its coastline is a thin line of defence against potential oceanic and climatic...
Yemen atrocity
Updated 23 Jan, 2022

Yemen atrocity

The sooner this war is ended, the better, to halt the suffering of Yemen's people and ensure security of all regional states.
23 Jan, 2022

Regressive taxation

THE FBR appears to have kicked up a new and unnecessary controversy by serving notices on currency dealers to ...
23 Jan, 2022

Medico-legal flaws

ON Friday, a 13-page verdict authored by Justice Ali Zia Bajwa of the Lahore High Court revealed a shocking fact...