Shaikh chairs meeting on trade regulatory authority

ISLAMABAD: Federal Minister for Finance, Dr. Abdul Hafeez Shaikh here on Monday chaired a meeting about the proposal for the constitution of a trade regulatory authority.

The idea for constituting a regulatory authority was presented by the Chairman National Logistic Board (NLB).

The meeting was briefed about the status of National Logistic Cell, its operation vis-a-vis Afghan transit trade, official status as the government controlled strategic and crisis management office attached with the Planning Commission.

The presentation proposed formation of a transit trade regulatory authority whereby the implementation of the internal and external control of transit may be regulated.

The proposal dilated upon the determination of the authority at the exit and entry points and implementation through the regulatory body.

The tracking system and biometrics systems at exit and entry points are proposed by the NLB in coordination with the other stakeholders including FBR, Ministry of Commerce and Communications and others.

The Minister for Finance asked the meeting to form a committee for further deliberation on the matter and submit its report before the next meeting to reach a conclusion.

The Secretary Finance, Planning and Development, Secretary Communications and Secretary Defence attended the meeting.

Copyright APP (Associated Press of Pakistan), 2011