NA approves over Rs26.99b grants for Commerce Division

ISLAMABAD, Jun 24 (APP): The National Assembly on Tuesday approved two demands for grants of over Rs. 26.99 to cover the Commerce Division’s expenditure for the financial year ending June 30, 2026.
Finance and Revenue Minister Muhammad Aurangzeb presented the demands in the House, which were passed with majority support. The 67 cut motions moved by the opposition members were rejected.
The House approved a sum not exceeding Rs. 26,948,574,000 to meet expenditure during the financial year ending on 30th June, 2026 in respect of commerce division and a sum not exceeding Rs. 50,000,000 for development expenditure of commerce division.
Winding up the debate on cut motions in the National Assembly, Federal Minister for Commerce Jam Kamal Khan said the government’s $60 billion export target is backed by years of planning, consultations, and reforms—not mere imagination.
The minister said the Strategic Trade Policy Framework (STPF) 2024–30 was shaped through consultations with 17 sectoral councils and included officials from the federal and provincial governments.
“We identified challenges in each sector, proposed legal and institutional reforms, and created a clear roadmap,” he said.
He dismissed claims that the policy was designed in isolation, adding that a full analysis of global trade patterns and local institutions was conducted. “Our policy reflects ground realities and has clear steps to achieve the $60 billion goal,” he said.
The minister said the private sector was fully engaged in the planning process. “We addressed key issues like production costs, taxation, and monetary policy to make the environment business-friendly,” he added.
He announced that Pakistan’s commercial attachés abroad have been renamed as Trade and Investment Officers (TIOs), and are now selected through a competitive process involving private sector representatives.
“For the first time, we are launching an Electronic Trade Analysis Portal,” the minister said. TIOs will use the portal to report daily on performance, outreach, and investment opportunities. Their work will be measured through strict KPIs and TORs.
He stressed that transparency, accountability, and efficiency are now central to trade governance. “Our export policy is now built on real-time action, not just paperwork,” he said.
Highlighting export performance, the minister said Pakistan recorded a five-year high in Basmati rice exports this year. “Even with India returning to the market and slashing prices by 15–20 percent, our rice exports held firm at $3.3 billion,” he said.
He clarified that Pakistan’s total exports are closer to $30 billion, contrary to some claims of $27 billion.
The minister said TIO postings are now made through a transparent, merit-based process, ending past practices of favoritism. “Now, skilled officers are sent to critical markets, and their performance is closely tracked,” he added.
He also announced a new online portal where TIOs submit reports and are evaluated daily, weekly, and monthly.
Dr. Jam Kamal announced the formation of Pakistan’s first National Compliance Council to help exporters—especially SMEs—meet global standards. A dedicated head has been appointed, and training is underway.
For the first time, the Commerce Ministry has also appointed a Head of Research to guide decisions based on solid data and market trends.
The minister said Pakistan is preparing its first-ever Domestic Commerce Policy to promote local production. “We can’t increase exports without building local surplus,” he said.
He also stressed that agro-food and food technology have been identified as key export areas. “We’re bringing food tech into our export policy to meet global market needs,” he added.
On GSP Plus, the minister said preparations are underway with involvement from the Law, Interior ministries, and provincial governments. Local and international firms are providing consultancy services for compliance.
Institutions like the Export Development Fund (EDF) and Trade Development Authority of Pakistan (TDAP), once inactive, have been restructured. EDF now has a full team, a CEO, and a technical assistance wing. Performance reports will soon be presented to Parliament.
The federal budget, he noted, offers relief to domestic manufacturers, particularly those using local raw materials. Regulatory Duties and other levies are being phased out under a five-year industrial plan.
He said a steering committee led by the finance minister is monitoring industry reforms, with regular meetings every 10–15 days. The committee includes ministers of commerce, petroleum, and food security.
The minister noted that Pakistan achieved $8 billion in agro-food exports last year—its highest ever. “This came despite falling global demand, dropping interest rates, and inflation now in single digits,” he said.
He added that the government is focused on strengthening value chains, reforming export facilitation schemes, and upgrading port and shipping infrastructure. The Prime Minister himself is supervising efforts to streamline FBR reforms and the Single Window Initiative.
“We are implementing major reforms in trade and industry. With every passing month, you’ll see measurable improvement in both performance and outcomes,” the minister added.