The Trade Policy for the current fiscal year will be announced after Eid-ul-Fitr, while the talks between the commerce ministers of Pakistan and India are expected to take place in the last week of September.
Secretary Commerce Zafar Mehmood said this while talking to reporters after the National Assembly Stranding Committee on Commerce. The announcement of the trade policy was set for the last week of August, however, it has been delayed.
When asked about the Indian government invitation to Commerce Minister Makhdoom Amin Fahim, he said that the invitation has been accepted and would take place in the last week of September.
He said that technical level Pak-India trade working group meeting has concluded in New Delhi and it would be followed by the parleys between the trade ministers of the two countries. He was of the opinion that both the countries were making progress as per schedule agreed during the secretary level talks. “No deadline has been missed and they are on target” he added. Both the countries had decided at the secretary level talks that many of the tariff and non tariff barriers would be resolved before the meeting of the trade ministers in September to take some steps for actually liberalising the bilateral trade between the two neighbouring states. On EU trade concessions, he said, Pakistan is pursuing the trade concessions vigorously and has tried its level best to convince India on the issue. Pakistan has taken up the issue during the talks between both the prime ministers on the occasion of Mohali one day match during cricket world cup semi finals. The Foreign Minister Hina Rabbani Khar again raised the issue during her recent trip to India.
Secretary Commerce informed the committee that a summary for the appointment of new National Insurance Company Limited (NICL) Chairman had been sent to the Prime Minister a week ago. He said names of competent and honest candidates having experience in insurance business have been recommended. New Board of Directors for the NICL would be formed in consultation with the new Chairman NICL.