- Advertisement -
ISLAMABAD, Jul 21 (APP):The National Assembly, Standing Committee on Commerce convened on Monday at the Parliament House, under the chairmanship of Muhammad Jawed Hanif Khan, MNA, to deliberate on key issues shaping Pakistan’s trade and commerce landscape.
The Committee reviewed and adopted the report submitted by its Sub-Committee on the long-outstanding receivables of the Trading Corporation of Pakistan (TCP).
The Committee was informed that the Ministry of Finance had released Rs. 15 billion through the Ministry of Commerce to facilitate TCP’s recovery from various ministries and organizations.
Addressing the matter of the suspension of SRO 760 relating to the Gems and Jewellery Association of Pakistan, the Committee appreciated the Ministry’s proactive approach and noted assurances that the matter would be resolved promptly.
In view of the sugar crises looming over and the governments decision to import sugar, the Chairman took serious notice of the situation.
While keeping in mind the plight of unprotected consumers, sudden surge of price hike of sugar and to expose the profiteering mafia, the Chairman constituted a sub-committee to investigate the matter in detail.
The sub-committee has been tasked with submitting its findings within 15 days.
The Chairman shown displeasure on the non representation of Department of Plant Protection (DPP) and Fruit Juice Council (FJC).
The Committee held comprehensive discussions on the Pakistan National Tariff Policy. The committee Member’s also debated the rationale behind reducing taxes on big cars and increasing them on small cars, while seeking clarification on policy decisions. The Committee advocated for liberalizing the import of raw materials and machinery to support industrial development and boost productivity.
Furthermore, the Committee examined the feasibility of achieving the export target of $60 billion by 2029, as proposed by the Trade Development Authority of Pakistan (TDAP). TDAP expressed confidence in reaching the goal through new initiatives and policy rationalization, though they acknowledged existing challenges and recent declines in certain sectors.
The meeting was attended by MNAs Mr. Muhammad Mobeen Arif, Mr. Usama Ahmed Mela, Ms. Shaista Pervaiz, Dr. Mirza Ikhtiar Baig, Mr. Muhammad Atif, Ms. Tahira Aurangzeb, Mr. Khurshid Ahmed Junejo, Ms. Shahida Rehmani, Mr. Muhammad Ahmad Chattha, and Rana Atif in person, while MNAs Mr. Asad Alam Niazi, Mr. Muhammad Ali Sarfaraz, Mr. Farhan Chishti, and Mr. Gul Asghar Khan joined virtually.
Senior officials from the Ministry of Commerce, Ministry of Industries and Production, the Federal Board of Revenue (FBR), and the State Bank of Pakistan were also present.