Consultative session on STPF held

F.P. Report

KARACHI: Trade Development Authority of Pakistan, Ministry of Commerce, organized a Consultative Session with the stakeholders in Hyderabad to seek their proposals for the formulation of Strategic Trade Policy Framework 2018-23. Abdul Karim Memon, director (Product Division-1), TDAP, Karachi chaired the session. The representatives of chambers of Commerce & Industry, Hyderabad, Jamshoro, Dadu, Mirpurkhas, and Hyderabad Chamber of Small Traders & Small Industry, Hyderabad, Sindh Chamber of Agriculture, Sindh Abadgar Board, Capital Cottage Industrial Corporation, Kotri Association of Trade & Industry, Hyderabad Association of Trade & Industry and other regional stakeholders attended the Session and deliberated on the upcoming STPF 2018-23.

Ashiq Hussain Khoso, deputy director, Sub-regional Office, Hyderabad ensured the participation of all regional chambers, trade associations and stakeholders to give their input. Abdul Karim Memon, director (PD-1), TDAP elaborated that in the upcoming STPF, Ministry of Commerce is devising the medium term trade policy for the period of five years so that trade could benefit from the incentives announced in STPF 2018-23. The major focus of STPF would be upon boosting exports in the Services Sector, Export Competitiveness and investment Linkages, particularly attraction of FDI in the Export related Industry and integration of local industry into global value chain. He further added that the objective of organizing the consultative sessions across the country with business community, think tanks and academia is to deliberate on existing STPF 2015-18, point out its loopholes, and identify current issues from stakeholder’s viewpoint. He emphasized upon the stakeholders for timely giving their concrete proposals based upon proper research of markets and data, for their consideration by Ministry of Commerce and incorporation of the same in the upcoming Strategic Trade Policy Framework (STPF) 2018-23.

Ministry of Commerce through rigorous efforts in collaboration with business community has succeeded in breaking the stagnancy in export profile of the country. After the announcement of export package of around PKR 180 billion by Prime Minister and its successful implementation, the exports grew at the ratio of 10% from June 2017 and this ratio is expected to remain the same till the end of current fiscal year.

Through such Consultative session with trade bodies, Ministry of Commerce is trying to come up with elaborate trade policy, helpful in enhancing exports from the country and uplift the socio economic conditions of Pakistan.