Senate body recommends modernising commerce ministry

Committee chairman says innovation needed to boost exports

ISLAMABAD: The Senate Standing Committee on Commerce and Textile industry recommended modernising and restructuring the commerce ministry, in order to align it with the changes and technological developments in the world.

“We should follow the modern trade pattern and the emerging market trends for value addition and innovation in local market to enhance the country’s exports,” said chairman of the committee Senator Syed Shibli Faraz.



“We are rationalising the country’s trade in both export and import and trying to get new market access in different regions of the world,” said Commerce Minister Pervaiz Malik. He said that FTAs signed with different countries in the past have benefitted the country’s trade and now the ministry is rationalising the agreements with these countries to enhance the trade and exports of the country.

He informed the committee that Ministry of Commerce Secretary Muhammad Younus Dagha is going to start the negotiation on FTA phase-II with China by September 14-17.

The minister informed the committee, “We want to revive the confidence of the textile sector through ‘Trade Enhancement Package’ amounting to Rs162 billion for the textile industry, announced by former prime minister Nawaz Sharif.”



The committee gave recommendation for proper execution of the package. Commerce secretary informed that the ministry had framed short, medium and long term strategy for meeting the international standards to enhance the country’s trade.

Published in The Express Tribune, September 13^th, 2017.

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