KARACHI, Aug 29: Prime Minister Mir Zafarullah Khan Jamali has asked the businessmen in particular and people in general to bear for two more years the Wapda-related higher electricity tariffs.

“We may try to bring down Wapda electricity prices lower even earlier than two years,” he promised the businessmen at the FPCCI Export Trophy 2001-02 distribution function on Friday evening. He attributed the pressure of electricity prices to the IPPs which he called “a legacy of the previous governments”.

The Prime Minister gave away 160 prizes to exporters for their exceptional performance in various categories of trade and business and lauded their contribution in exceeding $11 billion barrier in the last fiscal year.

He said that Pakistanis make outstanding performance during crisis and achievement of over $11 billion export earning is such one feat.

He said that his government had reduced to great extent bureaucratic hecklings that affect the businessmen. “The time you have to spend in government offices to get your work done should be spent on improving economy and country’s exports,” he said.

Mir Zafarullah Jamali asked the businessmen not to be worried about WTO. “WTO symbolises a change and we do not fear change but prepare ourselves to face this change,” he said.

“We have nothing to fear from US or Europe because our feet are firmly consolidated on our grounds,” he said.

Earlier the Federal Commerce Minister Humanyun Akhtar Khan in his speech said that Pakistan’s biggest fight with the WTO is on the issue of agricultural subsidy being given by the WTO countries.

“We have linked success of our negotiations with WTO with reduction in the massive subsidy being given by the developed countries which has put countries like Pakistan at a much disadvantageous position,” he said while informing the audience that an average of one billion dollars are being set aside every day in the developed countries to subsidize agriculture and support trade of agricultural products.

Countries like Pakistan he said were not able to export their surplus wheat, rice and sugar because of the distortion created by such subsidies in the developed world. Developing countries have to provide subsidies to make export of agricultural products feasible.

He said that Pakistan was negotiating in context of Doha Development Agreement in seven areas. Of these he listed three as very critical. These are agriculture, agricultural marketing and services.

The Commerce Minister asked the businessmen not to worry about tariff related issues because Pakistan has taken more than adequate measures in that direction.

“What concerns us is the non-tariff issues,” he pointed out and made a specific reference to the ‘abuse’ of dumping clauses and imposition of countervailing measures. “We are negotiating dispute settlement mechanism in spirit of Doha Development Agreement,” the minister said.

He said the withering away of export quotas from 2005 is both a challenge and opportunity to the Pakistani exporters. He endorsed the FPCCI President Raiz Tata’s assertion that utility prices were too high in Pakistan. “Jamali government is seized with this matter,” Humayun Akhtar remarked and said that the credit goes to present government for bringing down lending rates, which has reduced the cost of doing business in Pakistan.

He also clarified that social compliance was not a WTO issue but a demand of the businessmen of the developed countries.

The minister said that Trade Policy for the current fiscal year has addressed all the issues that affect business in Pakistan.

Earlier the FPCCI President Riaz Tata in his address of welcome asked the government to remain in touch with the business community on WTO related issues.