RAWALPINDI, Jan 19: Pakistan will not have to make major changes in its policies to meet the challenges after implementation of the World Trade Organization (WTO) regime.

These views were shared by the participants of a one-day workshop on "Subsidies and Countervailing Duties: Laws and Procedures", organized by National Tariff Commission (NTC) in collaboration with Rawalpindi of Chamber and Commerce and Industry (RCCI) here on Monday.

The participants asked producers and industrialists to consider the positive aspects of the WTO regime and adopt measures to sustain in a world of competition and challenges by manufacturing quality products and maintaining credibility.

The NTC chairman, Dr Faizullah Khilji, in his inaugural speech, urged businessmen, industrialists, lawyers and other professionals to equip themselves with information related to the WTO rules and regulations.

The chairman said liberalization of financial flow dated back to 1960s and Pakistan was one of the first 23 signatories to the General Agreement on Tariffs and Trade. The agreement was designed to lower tariff and other barriers to free trade across international borders, he added.

Citing examples of industrial sector of Malaysia, China and Korea, Dr Khilji said increasing the tariff was not important for industrial development. The NTC is there to solve the dumping and subsidy related issues faced by the domestic industry, besides fighting legal battles for saving the future of the local products, he added.

"We have to train and educate our labourers. We should also overcome the difficulties faced by the domestic industry due to high energy cost, high port charges and limited access to finances for the small and medium enterprises," Dr Khilji said.

The RCCI president, Hussain Ahmed Ozgen, said the WTO regime would provide a chance to the country to enhance the quality of its products and explore the world markets. The WTO regime will not affect the tax structure as it was already up to the desired mark, he added.

However, he said, the producers must prepare themselves for the negative impacts of globalization in general and the WTO in particular. More than 60 per cent of exports are related to the textile sector, but still the portfolio is not well advertised, he added.

On the occasion, experts also highlighted the problems related to dumping of products in domestic markets by different countries including China.