KARACHI, Oct 25: A broad-based committee is being constituted to prepare the outlines for new investment-friendly tariff structure.

This was stated by the federal secretary, Industries and Production Dr Akram Sheikh while addressing the members of Site Association of Industry here on Thursday. The chairman, Pakistan Industrial Development Corporation (PIDC), senior officials and leading industrialists were also present on the occasion.

He said the decision has been taken in principle by the Commerce and Industry Minister Abdul Razak Dawood in this regard. The committee will include top officials of the ministry of finance, the CBR, industrialists, exporters, commercial exporters, trade, etc.

He pointed out that this broad-based committee would set up 10 to 12 sub-committees to complete the job by March or April next year.

Dr Sheikh said that new tariff system would be framed on the suggestions of industrialists, exporters and businessmen. “It will be 100 per cent based on your suggestion,” he said.

“Either we will convince you or you will convince us,” Dr Sheikh observed.

He said tariff on those raw material which were not produced in the country would be lowered in the new system.

The new tariff structure would be aimed at promoting industrialization and reduction in cost of production.

Outlining the aim of the Ministry of Industry and Production, Dr Sheikh said that it would serve as a bridge between various government department and investors.

It would encourage dialogue between public, private and officials for diverting investment to major export earning sectors, he said.

Similarly, he said the role of PIDC would be of a catalyst and not running industries.

Referring to the problems raised by the industrialists at the meeting including the delay in the payment of sales tax refunds, gas power generation, water shortage, Dr Sheikh said that he would take all these issues at top level for their solution.

Earlier, Chairman of the Association Usman Zakaria in his address of welcome highlighted the problems facing industries in the industrial area.

He said huge refund claims were being piled up with the CBR, creating financial crunch for the exporters.

He also urged Dr Sheikh to use his good offices for the removal of unjustified war risk premium imposed by foreign shipping lines on Pakistani cargo.—APP