Islamabad, 10 September 2024 (TDI): The government is set to announce the Trade Policy 2025 soon, which will be presented to the standing committees of the Parliament.
Federal Minister for Commerce and Trade, Jam Kamal Khan, revealed this during the 342nd session of the question and answer session of the House.
He assured that the government is committed to facilitating trade and industry, and expanding exports to ensure sustainable growth and stabilize the economy.
Minister Jam Kamal Khan stated that the government is determined to bring institutional and structural reforms, enhance regional connectivity, and diversify exports.
He added that Prime Minister Shehbaz Sharif has conducted several meetings with relevant ministries and stakeholders to frame a comprehensive strategy to address the challenges faced by the business and industry in Pakistan.
The textile sector, which constitutes a major portion of the country’s exports, is under stress, and the government is considering different options for developing the sector.
Minister Kamal informed that the present government has appointed a competent Head of the National Compliance Center on September 1.
According to the minister, textiles and apparel exports slightly increased by 0.93 percent in Financial Year (FY) 2023-24 compared to FY 2022-23.
The government is taking steps to redesign the Export Facilitation Scheme (EFS) of FBR for inclusion of all stages of manufacturing, exemption of registered units from sales tax on utility bills, and removal of procedural irritants to ease imports for re-export purposes.
