ISLAMABAD: The National Assembly Standing Committee on Commerce on Friday expressed grave concern over the declining trend in exports and pressed for necessary policies to enhace exports.
The committee also stressed the need for capitalizing the massive potential in the country and prefer the exports of value added goods.
In this regard, the committee asked the Ministry of Commerce to address the declining trend in exports, especially the exports of textile products to the international market and to explore new markets for the Pakistani products through its representatives posted in Pakistani missions abroad.
The committee met here with Siraj Muhammad Khan in the chair and showed concerns on decrease in cotton production in the country leading to the import of cotton from foreign markets. In this regard, the committee decided to get a briefing from the Ministry of Textile and All Pakistan Textile Mills Association in its next meeting. The committee observed that the exports encouraging policies of the government would help capitalize the GSP+ status granted by the European Union.
The secretary commerce apprised the committee that there are multiple factors which caused decrease in exports. However, the government had initiated various short and long term measures for incentivizing manufacturing and export sectors.
He said that exports during the current year have witnessed substantial increase and he was confident that the situation would further improve in coming years. He informed that cotton production was due to decrease of cotton area and non-availability of pest-resistant seed in the country.
The committee approved the Marine Insurance Bill, 2016 referred to the standing committee by the House. The committee viewed that Bill, an encouraging step for promotion of marine insurance sector in Pakistan. The committee deferred briefing on issues and concerns of APTMA regarding exports and import policies for its next meeting due to inability of Chairman APTMA to attend the meeting.
