ISLAMABAD: A mid geared up efforts by the Ministry of Commerce (MoC) for early preparation of 3rd Strategic Trade Policy Framework (STPF) 2015-18, the STPF is likely to be finalized by the end of June.
“After completion it will be presented before the competent forum for the approval and most likely to be debated in the parliament during the budget session” a well placed source privy to Secretary Commerce told this scribe here on Tuesday adding that MoC had received 800 proposals
As part of geared up efforts, MoC has sought proposals in this regard from concerned ministries, divisions and departments which include Textile, National Food Security and Research, Industries and Production, Water and Power, Science and Technology, Information Technology, Board of Investment, SMEDA, State Bank of Pakistan, provincial Governments, Federation of Pakistan Chambers of Commerce and Industry, District Chambers, exporters Associations and Academia.
These stakeholders have been asked to put forth their proposals for the Strategic Trade Policy Framework 2015-18.
MoC is willing to prepare a new Strategic Trade Policy Framework with main thrust in building supply side capacities, strengthening business environment, creating new market opportunities and increasing our share in existing markets. A realistic, stable, predictable and transparent medium-term trade policy framework can only address issues confronted by the exporters
MoC eyes that the investors will regain confidence and start investing in the country with improving peace and enhanced energy availability in the country in result of upcoming STPF.
Priority of the Government is to initiate policies, which could reduce the cost and enhance the ease of doing business in the country.
The received proposals are being thoroughly scrutinized in the Ministry and several of them will find their way into the final draft of the policy framework.
The received proposals emphasized the importance of bringing consistency in the economic policies. One proposal is that MoC must work to improve the marketing and branding of Pakistani products abroad by effectively using its trade missions.
Government support in seeking costly international certifications was sought as this will help the small exporters to reach high-ended lucrative Western markets. It is proposed that to enhance the exports of perishable items, the Government must enhance air cargo space in the national carrier.
The stakeholders have proposed that the Government should negotiate visa issues with its trading partners so that businessmen may travel at considerable ease, duty and tax exemptions, which the Ministry will look into in detail.
MoC is also working on rationalizing its tariff structure and reviewing the concessionary regime. In this regard a High Powered Committee headed by the Finance Minister, comprising representatives of different ministries, divisions and trade bodies across the country has been constituted.
In order to ensure the timely implementation of the new trade policy framework, comprehensive business processes are being developed simultaneously with the policy initiatives. The business processes will be notified concurrently with the announcement of STPF 2015-18.
A mechanism for mid-course correction of the policy has been developed. The Ministry plans to hold Advisory Council meetings annually to invite input for corrections and adjustments in policy initiatives without compromising on the basic framework of the three-year policy.
