Senate panel reviews export performance

ISLAMABAD -- In the face of dwindling export revenues, a Senate committee held a review on Tuesday to assess the performance of Pakistan's Ministry of Commerce and its Trade Development Authority (TDAP) in stimulating the country's exports. Led by Anusha Rahman, the Senate Standing Committee on Commerce delved into several aspects of the nation's trade landscape, including export promotion strategies, representation of trade in China, investment hurdles, and agricultural trade dynamics.

TDAP's Chief Executive, Faiz Ahmed, began by acknowledging that the authority was frequently blamed for any shortfall in export growth. He highlighted that export expansion was intricately linked to overarching economic factors, such as production expenses, electricity tariffs, and financing rates. Notably, his remarks echoed those of Commerce Minister Jam Kamal Khan, who stated that the ministry consistently submits policy proposals to the government to enhance trade.

Khan also revealed that he had advised Prime Minister Shehbaz Sharif to seek reciprocal incentives to stimulate exports. He further emphasized that the ministry is currently developing new strategies to enhance Pakistan's international marketing efforts and bolster its exports. Khan stressed that improving export competitiveness necessitates addressing the underlying cost and investment environment.

Faiz Ahmed then detailed TDAP's export promotion initiatives, revealing that the authority had participated in 91 international exhibitions during the previous fiscal year. Additionally, he noted that 11 delegations embarked on overseas visits to forge new markets and strengthen commercial ties. The committee was also briefed on Pakistan's current status of having preferential trade agreements with 93 countries.