Open AccessImport Licensing in Pakistan
Author(s) -
Syed Nawab Haider Naqvi
Publication year - 1964
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v4i1pp.51-68
Subject(s) - position (finance) , principal (computer security) , business , christian ministry , private sector , control (management) , economics , international trade , finance , economic growth , law , operating system , management , computer science , political science
Pakistan's import trade in the private sector is regulated byan elaborate licensing system. It is complex in its structure anddetailed in its operation. The structural complexity of the systemarises from the simultaneous operation of different types of licenceswhich seek to regulate the import sector in microscopic detail. Itregulates the volume of imports, the composition of imports, and, incertain cases, even the sources of imports. This elaborate system isadministered by the Chief Controller of Imports and Exports (CCI&E),in the Ministry of Commerce, who is the principal licensing authority inthe country. His task is to assess import needs and then to allocatescarce foreign-exchange resources earmarked for the private sector. Inarriving at his decisions he is guided, on the one hand, by the latestmarket intelligence reports regarding the price trends of importedcommodities as the indicators of what the market actually needs, and onthe other hand, by official views of what the market should need, and inwhat proportion, to conform to the broader scheme of ensuring an optimalallocation of domestic resources. The formulation of the semi-annualImport Policy, which is the sum-total of all these varied and complexdecisions, is, therefore, a momentous undertaking, and occupies acentral position in the broader strategy of economic planning.