Contradicting Pakistan's claims that India has a higher tariff regime, a World Bank report has said Islamabad's tariffs were 10 per cent higher than that of New Delhi and has asked it to reduce the same through a unified trade liberalisation policy.
The bank has recommended eliminating the existing tariff exemptions and concession in the next two-three years with a firm announcement in advance and reducing import tariff from the existing 25 to 20 per cent, the Daily Times on Tuesday quoted officials as saying.
The report titled 'Pakistan Growth and Export Competitiveness' is circulated among the ministries and divisions and will be handed over to the ministry of finance during the meeting of Pakistan Development Forum scheduled in May at Isla-mabad by incorporating suggestions, the officials said.
In the report, the bank has said India has already lowered its normal maximum tariff rate to 15 per cent in the budget for the current fiscal and there are plans to further reduce it to 10 in the next fiscal year.
Pakistan has been charging that New Delhi's tariff and non-tariff structures were too high for its products to compete in Indian markets.
Besides holding talks to improve trade relations through the composite dialogue process, the two countries have formed a study group headed by the commerce secretaries of both the countries to look into Pakistan's stand.
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