**Parliamentary Committee Reviews Key Trade Issues and Sets New Investigations on Sugar Crisis**
The Standing Committee on Commerce convened at Parliament House in Islamabad to address a broad spectrum of critical issues impacting Pakistan’s trade and commerce, ranging from unresolved government receivables and tariff policies to an unfolding sugar crisis and export targets. The session, chaired by Mr. Muhammad Jawed Hanif Khan, MNA, saw participation from lawmakers and senior officials across multiple ministries and regulatory bodies.
A principal focus of the committee was the long-standing outstanding receivables owed to the Trading Corporation of Pakistan (TCP). Members unanimously adopted the sub-committee’s report on the issue, noting that the Ministry of Finance had recently allocated Rs. 15 billion via the Ministry of Commerce to help TCP recover funds from various ministries and organizations, potentially alleviating some fiscal pressures within state-run trading entities.
The committee also discussed the suspension of SRO 760, which had affected the operations of the Gems and Jewellery Association of Pakistan. Members commended the Ministry’s proactive role and welcomed its assurance that the dispute would be resolved swiftly to ensure industry stability.
Amid rising concern over looming sugar shortages and government moves to import sugar, the committee chair expressed serious concerns about the price surge and its impact on consumers. Citing the urgent need to address alleged profiteering, the Chairman announced the formation of a new sub-committee tasked with investigating the root causes of the sugar crisis and presenting its findings within fifteen days.
Notably, the Chairman also voiced dissatisfaction with the absence of representatives from the Department of Plant Protection and the Fruit Juice Council, both considered vital stakeholders in the country’s agriculture and food industries.
In policy deliberations, the committee examined the Pakistan National Tariff Policy, scrutinizing recent decisions to reduce taxes for large cars while increasing them for smaller vehicles, and sought detailed clarifications from government officials. Members collectively advocated for a more liberal approach to importing raw materials and machinery, emphasizing that such measures would provide much-needed support to industrial development and enhance overall productivity.
Looking toward export growth, the committee reviewed the Trade Development Authority of Pakistan’s (TDAP) ambitious proposal to achieve $60 billion in exports by 2029. While TDAP expressed optimism that this target could be met through new initiatives and more rationalized policy frameworks, they also acknowledged current challenges, especially recent declines in specific export sectors.
The meeting saw in-person attendance from several Members of the National Assembly, including Mr. Muhammad Mobeen Arif, Mr. Usama Ahmed Mela, Ms. Shaista Pervaiz, Dr. Mirza Ikhtiar Baig, and others, while some members participated virtually. Senior officials representing the Ministry of Commerce, Ministry of Industries and Production, the Federal Board of Revenue, and the State Bank of Pakistan were also present, contributing to a comprehensive discussion on the way forward for Pakistan’s trade and economic growth.
