Ministry of Commerce: Trade policy to be announced by end of January

The total trade volume envisaged in the policy is $95 billion, says secretary Ministry of Commerce.

ISLAMABAD: The commerce ministry is planning to announce the Trade Policy 2012-13 by the end of this month after getting necessary approvals from the Cabinet, said Ministry of Commerce Secretary Munir Qureshi, while speaking to the media after the meeting of the Senate Standing Committee on Commerce.

Qureshi said the ministry had already discussed the policy with the prime minister and it will be presented in the cabinet meeting to be held in the next few days for approval.

The total trade volume envisaged in the policy was $95 billion, he said. The sensitive list containing 1,700 items will be reduced to 100 items by 2017 and about 320 items will be reduced each year, he added.

There is proper system with the National Tariff Commission (NTC) to protect the interests of the local industry, he said. “Besides, we are in the process to restructure the commission to make it more effective for protecting the local industries,” Qureshi added.

Published in The Express Tribune, January 10^th, 2013.

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