US, Europe will cut agri subsidy in five years: Humayun

ISLAMABAD—Federal Minister for Commerce Humayun Akhtar Khan has said that United States and Europe have agreed on fixing the date for cutting subsidy on agriculture sector within five years.
“We stuck to the interests of Pakistan in the recent round and are in favour of cut on the subsidies in agriculture sector and domestic support on the export by the developed countries,” minister said while addressing a press conference on the occurrence of sixth WTO ministerial conference here on Saturday. Minister said that pressure had been built on the US, Europe and other countries and USA had reached the point to fix the date for abandoning the subsidy on agriculture sector within five years and it was not ready earlier to end the facility of subsidy on agriculture sector in the country. “We will make all out efforts to wind up the issue of subsidy on agriculture sector and domestic support on the export by the developed countries and hold consensus in this regard,” minister added.
Minister said that Pakistan had not reverted from its cause in all rounds in the conference and endeared its object and added we were in favour in the decrease of subsidy given by USA to the farmers in agriculture sector.
“The debate will be held on the amended document of WTO on Sunday (today) and Pakistan will not compromise on its principal stand regarding the negotiations on WTO as it had not done in earlier rounds on negotiations of WTO,” he said.
Minister added that Pakistan would stand by the countries that had taken firm stand demanding of the developed countries to cut the subsidy on agriculture sector and domestic support on export.
“Two big key players USA and Europe are playing a hard game regarding the negotiations on WTO and for the first time debate on green room in services sector had been held,” he said quoting it a big success.
He said that many countries including Pakistan wanted to apply the formula of cut in duties on industrial goods in agriculture sector and Non-agriculture market access (NAMA) had been linked with agriculture sector for the first time.
He added that amendment in tax draft had been articulated and duty permit would apply to the developed countries as compared to the developing countries. Minister said that both G-20 and G-90 groups were trying their best to cut the subsidy on agriculture sector and many other countries had joined these efforts.—APP