ISLAMABAD – The US has included the flood-affected areas in the Reconstruction Opportunity Zones (ROZs) legislation that would be reintroduced in the House of Representatives. It was stated by Secretary Commerce Zafar Mahmood during a briefing on the three-year performance of the Ministry of Commerce, along with the reappointed Federal Minister Makhdoom Amin Fahim on Saturday.
The ROZs Bill would again be moved in the House of Representatives, he said, adding that the Republicans’ majority in the house would be helpful. The ROZs were proposed in 2003 by Pakistan to promote economic activity in the FATA along the Pak-Afghan border which have been hit badly by the terrorism. After the devastating October 8, 2005 earthquake, the US agreed to the Pakistan’s proposal to included affected areas of Azad Kashmir and Khyber-Pakhtunkhwa in ROZs.
The legislation has remained pending due to the concerns shown by the Congressmen that granting of concessions to Pakistan’s textile sector would affect the US textile industry. After the approval of unilateral trade concessions from the 27-member EU trading block, Pakistan has speeded up efforts to get similar concessions from the US. The secretary Commerce said the ROZs Bill was previously passed by the US lower house but was held due to the global economic crisis. “US even withheld implementation on the FTAs signed with South Korea, Panama and Columbia.”
With the revival of the global economy and changing situation, the US was initiating FTA with South Korea, he said, adding that they were hopeful of ROZs’ early passage. Amin Fahim said the government would take steps to improve its trade with China. “We will be discussing of 284 tariff lines with China.” According to Makhdoom, Pakistan would get 17 routes through Afghanistan to promote exports to Central Asian Republics (CARs) and beyond under the Afghanistan Pakistan Transit Trade Agreement (APTTA) that becomes effective from today.
In reply to a question regarding the retired employees appointed at the top positions of subsidiary organisations of the ministry, he said they would follow the orders of the Supreme Court. He said the TCP board would be reconstituted with more members from the private sector. On the issue of pending claims of exporters, he said the Ministry of Finance was withholding the amount and it would be utilised to pay back the liabilities of exporters as soon as it was received.
He said the exports during current fiscal had increased by 24 percent as compared to the target of 10 per cent and the exports would hopefully reach $22 billion by end of the fiscal year.
