Minister for Commerce Khurram Dastagir Khan said that his ministry had formulated the ‘strategic trade policy framework (STPF) 2015-18’ and it was actively engaged in a consultative process with the business community and relevant government ministries regarding the policy.
He was briefing the National Assembly standing committee on commerce which met under the chairmanship of Siraj Muhammad Khan, MNA, the other day, a statement of the National Assembly said.
The agenda of the meeting was the approval of minutes of previous meeting, deliberations on template of memorandum for trade organisation to discuss/scutinise budgetary proposals relating to public sector development programme (PSDP) in respect of the ministry of commerce and its attached departments for the year 2016-17. The committee also discussed Pakistan’s bilateral trading engagement with Afghanistan and lran, and the recent initiatives of the ministry of commerce to promote Pakistan’s exports. The committee passed the “Template of Memorandum for Trade Organisation Bill”.
The public sector development programme (PSDP) in respect of the ministry of commerce and its attached departments for the year 2016-17 was unanimously approved by the standing committee on commerce.
Khurram Dastagir Khan said the proposed target of the policy was to increase the current level of merchandise export from US$24 billion to US$ 35 billion by 2018.
He added that the proposed policy would be improving export competitiveness and shift from ‘factor-driven economy’ to ‘efficiency-driven’ and ‘innovation-driven economy’ besides increasing share in regional trade. The pillars of the policy, he said, were products of sophistication and diversification, market access, institutional development and strengthening and trade facilitation.
The minister also told the committee that by keeping in view the vision of Prime Minister Nawaz Sharif, the ministry of commerce was actively engaged in the process of increasing bilateral trade with Afghanistan and lran. The meeting was attended by the members namely Choudhry Muhamrnad Shahbaz Babar, Ch Asad-ur-Rehman, Muhammad Pervaiz Malik, Mian Muhammad Rasheed, Ms Tahira Aurangzeb, Ms Shahzadi Umerzadi Tiwana, Nazir Ahnred Bughio, Ms Mussarat Ahmad Zeb, Ms Sajida Begum, Sanjay Perwani, Alhaj Shah Jee Gul Afridi, Dr Fouzia Hameed along with secretary, ministry of commerce and other senior officers of the ministry.