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Cabinet Approves Proposed Safeguard Measures Ordinance, 2002
Islamabad, June 19, 2002. Cabinet, which met today, accorded approval to the Safeguard Measures Ordinance 2002, which will provide protection to domestic Industry against serious injury or threat resulting from surges of imported goods.
The Ordinance which has been proposed by Commerce Ministry will now be sent to President for promulgation. The Ordinance derives its strength from URUGUAY round of multilateral trade negotiations, in which it was considered necessary to have an agreement on safeguards so as to provide member states with legal means to prevent such injury or threat.
By virtue of this Ordinance, in cases where serious injury to domestic Industry is apprehended due to import surges, the Federal Government, after going through a prescribed procedure, can apply safeguard measures in the form of “enhanced import duties” or “quantitative restrictions”, in order to curb such imports.
In critical circumstances, where time is of the essence, the proposed Ordinance also empowers the Government to take emergency action in the form of application of provisional safeguard measures.
The liberalization of Pakistan’s import regime and the concomitant lowering of tariffs and tariff bindings have also necessitated the promulgation of this Ordinance.
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