NA Panel Seeks Answers On Pakistan’s Trade Gap With China

A National Assembly committee in Pakistan has expressed significant concern over the country's ongoing trade deficit with China and other nations involved in free trade agreements. In response, the National Assembly Standing Committee on Commerce instructed the Ministry of Commerce to compile comprehensive reports on Pakistan's trade deficits with China, Malaysia, and Indonesia. This review aims to analyze the underlying factors contributing to the imbalance in trade.

The committee also requested information pertaining to the Saindak project and Pakistan's mineral exports. By examining these areas, they hope to determine if the nation is deriving sufficient economic benefits from its mineral resources. In addition to these inquiries, the committee evaluated tariff reforms, export promotion strategies, the performance of key trade-related institutions, and Pakistan's trade relations with major trading partners.

Members of the committee received an update on the proposed Generalized System of Preferences Plus (GSP+) scheme, which is scheduled to commence on January 1, 2027. The Ministry of Commerce was tasked with providing a detailed briefing on Pakistan's readiness for the scheme, including potential opportunities, challenges, and necessary steps to optimize the benefits derived from it.

Furthermore, the committee sought comprehensive presentations and reports on the Export Development Fund, GSP+, trade deficits with China, Malaysia, and Indonesia, as well as mineral exports.