ISLAMABAD: National Assembly Standing committee on Commerce on Tuesday stressed to need for enhancing the country’s exports and shows concern on decline in trade and exports.
The committee was briefed by the ministry of commerce that no Free Trade Agreement (FTA) and Preferential Trade Agreement (PTA) has been signed by the present government since 2013 to 2017 with any country.
The meeting of the Standing Committee on Commerce was held under the Chairmanship of MNA, Siraj Muhammad Khan.
It was informed to the Committee that the Prime Minister has announced a package in recent past due to which the trade rate has been enhanced to 16% in the last month.
The Committee recommends the ministry that import of the commodities and products, which are produced within Pakistan should be discouraged by imposition of taxes, tariffs and regulatory duties.
The Committee was briefed by the ministry that due to enhanced rates of oil, gas and electricity, the industries are facing problems to compete the international market resulting into decline of exports causing trade deficit in country.
It was informed to the committee that now the electricity and gas is regularly and continuously provided to the industries.
It was recommended by the committee that instead of giving cash subsidies to the industries, rebate on the rates of electricity and gas should be granted to all the industries.
It was directed by the committee that the exemption of General Sales Tax (GST) on exports of all commodities and products should be considered by the ministry.
The members of National Assembly Ch. Asad-ur Rehman,Muhammad Pervaiz Malik, Waseem Akhtar Shaikh, Tahira Aurangzeb, Ms. Zeb Jaffar, Dr. Shezra Mansab Ali Khan Kharral, Ms. Shahzadi Umerzadi Tiwana, Dr. Mehreen Razaque Bhutto, Nazir Ahmed Bughio, Mussarat Ahmad Zeb, Sajida Begum, Sanjay Perwani, Dr. Fouzia Hameed and Minister for Commerce attended the meeting besides the senior officers from the Ministry of Commerce with their staff.