Pakistani government has asked the European Union (EU) to slash tariffs for Pakistan's textile exports if possible, during 2005-06 FY, said Shaukat Aziz, Prime Minister.
EU has imposed high tariff rates on Pakistani textile exports, revealed the latest report of Pakistani Planning Commission; the Commission also urged EU administration to review their high tariffs on Pakistan products.
Average applied tariffs on clothing products are even higher at 45 percent for Pakistan and India.
Pakistani government is worries that if the country fails to strengthen its domestic fiscal effort under the possible impact of high oil prices on inflation, the country will have no other option but to hinge on foreign resources.
Pakistan has also to cope with higher oil prices in the medium term, Aziz rounded off.
