ISLAMABAD: Standing Committee on Commerce Chairman Muhammad Hanif on Wednesday asked the Commerce Ministry officials to work on prospects of uphill task of trade with India by keeping aside security issue, which is the domain of the Ministry of Foreign Affairs.
Presiding over a meeting of the Standing Committee, Muhammad Hanif, who represents, MQM(P) was of the view that the scope of bilateral trade with India is $100 billion, pressing the Commerce Ministry officials to start working on the design of potential to gauge its financial benefits. He said trade and security issues treated separately.
“Establish separate corridors for trade and security on the border. Why we are not doing trade with India directly and relying on third country,” he said, adding that the Commerce Ministry should also assess real potential of trade with Iran and Afghanistan.
The Standing Committee chairman was of the view that the committee can talk to the Foreign Ministry and tell them that welfare of people is more important than the foreign policy.
The committee expressed displeasure on absence of both the minister commerce and the secretary commerce from the meeting, as it was a tradition that ministers and secretaries always attend initial meetings of the committee.
The committee focused on evaluating and discussing the overall working of the Ministry of Commerce, setting the stage for strategic advancements in Pakistan’s trade and economic sectors.
Key agenda items included a comprehensive review of the ministry’s performance, identification of operational challenges and discussions on future initiatives. The committee focused on several critical areas, including an in-depth analysis of the ministry’s recent achievements such as trade statistics, export growth and market expansion efforts. The discussion also touched on necessary policy reforms to improve trade facilitation, regulatory frameworks and support for local industries and exporters. The committee members engaged in a meaningful discussion by providing valuable insights and recommendations.
The Standing Committee resolved to hold dedicated sessions on several pressing issues of national significance. One such session will focus on the challenges related to Independent Power Producers (IPPs), a matter of grave concern for the general public. A detailed briefing will be conducted, with invitations extended to all relevant stakeholders, including the Ministry of Power, Chambers of Commerce and the NEPRA etc.
Another session will be devoted to enhancing regional trade, underscoring the committee’s commitment to economic growth and regional cooperation. Future meetings will also address the issue of abolishment of the Final Tax Regime (FTR), a topic that has met with unanimous opposition from exporters across Pakistan.
The Standing Committee is dedicated to tackling these critical issues in a transparent and inclusive manner, ensuring that all voices are heard and considered.
The meeting was attended by MNAs Muhammad Ahmed Chattha, Usama Ahmed Mela, Muhammad Atif, Rana Mubashir Iqbal, Khursheed Ahmed Junejo, Asad Aslam Niazi, Mirza Ikhtiar Baig, Tahira Aurangzeb, Shaista Pervaiz, and Kiran Haider. Senior officers from the Ministry of Commerce were also present in the meeting.
Copyright Business Recorder, 2024
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