Prime Minister Raja Pervaiz Ashraf on Friday approved the Strategic Trade Policy Framework 2012-15, directing the Ministry of Commerce to present it to the cabinet for the final confirmation. The approval was made after holding detailed and comprehensive discussions. Salient features of the policy comprised institutional interventions, export development initiatives and regulatory amendments. The policy envisaged markup support for future import and purchase of machinery and export finance scheme for selected export sectors, ad hoc relief at 3 percent of FOB to offset the impact of high cost of utilities in selected sectors and establishment of the Exim Bank, Land Port Authority and Leather Export Promotion Council.
