Pakistan’s fares in terms of the tariff rate , compared with India and Bangladesh, were good, despite the policies of protectionism, said Customs, as Pakistan’s Most Favoured Nation ( MFN) rate was averaging 12.1% compared to 17.1% and 14% respectively for India and Bangladesh, said Pakistan Customs sources.
However, the MFN concentrations of China are far lower than Pakistan (9.8%), Sri Lanka (9.3%), Indonesia (8.1%), and Malaysia (5.6%). Similarly, it appears from the sources that Pakistan sees a better average MFN rates for product groups in the region than India and Bangladesh. In India (20.7 per cent) and Bangladesh (19.50 per cent), the textile industry is more covered than Pakistan (15.3 per cent), they said, adding that the rate of MFN for machinery installed on an entire industrial building in Pakistan is lower than in Bangladesh and India.
Since 2000, Pakistan has liberalized at comparatively fast rates than India and Bangladesh, with an average MFN vector for liberalization since the average MFN levels of 25.16%, 35.56% and 21.64% in 2000 respectively in Pakistan, India and Bangladesh in 2018 , respectively 12.1%, 17.1% and 14% in 2018. It literally means that in the last two decades Pakistan has more liberalized than India and Bangladesh.
