ISLAMABAD: Chairman Senate Committee on Commerce Senator Shibli Faraz has directed to the Ministry of Commerce that details of external trade agreements provide the Standing Committee, there should be role of Parliament to monitor the external commercial contracts.
Sources told Customs Today that officials of Pakistan Investment Board has informed the committee that Economic and Industrial Zones are exempted from customs duty and tax-free for ten years. The meeting of committee held at Parliament House under the chairmanship of Senator Shibli Faraz, attended by the Senators, Ilyas Bilour, Ehsan Naseem, Karim Ahmed Khawaja and the head of the concerned ministries.
Chairman committee recommended that commercial secretary, consular, trade secretary in Pakistan embassies abroad should be specialist and experienced in their field and they must mastering on foreign languages.
Chairman of the committee said that Government only focusing on the textile sector, no opportunity for flourishing has given to the other sectors. He suggested that constitute a task force or a think tank which make a practicable policy for the development of the country, not for personal gain. He said instead of textile sector package should be given to the all sectors in order to meet the significant reduction in exports.
Committee has suggested that agricultural production area of cotton increased. The current exports of Date to take up to the US$150 million and necessary steps should be taken for the better packing of rice and Date. Committee observed that instead of Financial and Current Account deficit Government showed increased in GDP figures, how is it possible.
