Trade policy to be announced by end of month: secretary


The Commerce Ministry is planning to announce the trade policy 2012-13 by the end of this month after approval from the cabinet, Commerce Secretary Munir Qureshi said on Wednesday. Speaking to the media personnel following the meeting of the Senate Standing Committee on Commerce, Qureshi said the ministry had already discussed the policy with the prime minister and now it would be presented in the cabinet meeting to be held in the next few days for approval. The total volume of trade envisaged in the policy is US $95 billion, he said. The sensitive list containing 1,700 items would be reduced to 100 items till 2017 and about 320 items would be reduced each year, he added. There is a proper system with National Tariff Commission (NTC) to protect the interest of local industry, he said.
“Besides, we are in the process to restructure the commission to make it more effective for protecting local industries,” Qureshi added.