ISLAMABAD: The National Assembly Standing Committee on Commerce on Wednesday reviewed tariff reforms, export promotion initiatives, the performance of trade-related bodies, the Export Development Fund (EDF), proposed legal changes and Pakistan\u2019s trade relations with major partners.<\/p>\n
The meeting, held under the chairmanship of Muhammad Jawed Hanif Khan on August 12, 2026, was briefed by the Ministry of Commerce on the implementation of tariff reforms. The committee was informed that around Rs120 billion in tariff benefits had been passed on to industry during the year to support local production and improve competitiveness.<\/p>\n
The ministry also told the committee that earlier tariff reductions had helped generate an estimated increase of $1.27 billion in exports.<\/p>\n
The chairman observed that tariff rationalisation should not be treated merely as a concession for industry. He said it should be seen as a strategic step aimed at reducing excessive taxation, cutting input costs and improving the ability of Pakistani products to compete in international markets.<\/p>\n
The committee reviewed the restructuring of the Export Development Fund in detail. It was informed that the fund\u2019s management had moved towards greater involvement of the private sector, with leading exporters taking a central role in setting priorities.<\/p>\n
Members appreciated the policy focus on projects that have a direct and measurable link with export growth, instead of conventional infrastructure-based schemes. The committee also examined the allocation of 40 percent of the Export Finance Scheme portfolio for Small and Medium Enterprises and stressed the need to ensure fair and sufficient access to export financing for smaller businesses.<\/p>\n
The performance and investment strategy of Pakistan Reinsurance Company Limited also came under discussion. The committee was told that PRCL retained nearly 30 percent of its risk, while about 70 percent was placed in international reinsurance markets, including London, Dubai and Singapore.<\/p>\n
The chairman called for prudent optimisation of the company\u2019s resources and asked that options be explored to improve returns while keeping strong risk-management practices in place.<\/p>\n
The committee also considered a Private Member\u2019s Bill seeking amendments to the Trade Organizations Act. The Trade Organizations (Third Amendment) Bill, 2026, relates to the Karachi Chamber of Commerce and Industry.<\/p>\n
During the discussion, members examined the distinctive position of KCCI and the proposed exemption from certain district-based provisions. The chairman directed that the proposed amendments be framed properly in legal language in consultation with the Ministry of Commerce and the Ministry of Law and Justice before being brought back to the committee for further consideration.<\/p>\n
The committee expressed serious concern over Pakistan\u2019s continuing trade deficit with China and other Free Trade Agreement partners. It called for a comprehensive assessment of the reasons behind the imbalance.<\/p>\n
The committee further directed that relevant information about the Saindak project and mineral exports be provided so that it could assess whether Pakistan was receiving appropriate economic returns from its mineral resources.<\/p>\n
Members were also briefed on the proposed GSP Plus scheme starting from January 1, 2027, including the transition period and compliance requirements. The chairman asked the Ministry of Commerce to submit a detailed briefing on Pakistan\u2019s preparedness, covering opportunities, challenges and the measures needed to make maximum use of the scheme.<\/p>\n
The financial position of the Trading Corporation of Pakistan was also reviewed. The committee voiced concern over TCP\u2019s outstanding markup liabilities and directed that the issue be taken up with the Ministry of Finance and the State Bank of Pakistan. It also sought a comprehensive briefing on the liabilities and the proposed steps for their settlement.<\/p>\n
For further parliamentary scrutiny, the committee directed the Ministry of Commerce to provide detailed presentations and reports on the Export Development Fund, GSP Plus, Pakistan\u2019s trade deficit with China, Malaysia and Indonesia, and mineral exports.<\/p>\n
To strengthen interaction with relevant stakeholders and assess trade-related institutions on the ground, the committee decided to hold its next meeting in Karachi. The meeting will include site visits and detailed briefings at the offices of the Trade Development Authority of Pakistan and the Trading Corporation of Pakistan.<\/p>\n
The meeting ended with a vote of thanks by the chair to the members for their participation and input.<\/p>\n
MNAs Shaista Pervaiz, Kiran Haider, Tahira Aurangzeb, Khurshid Ahmed Junejo, Dr Mirza Ikhtiar Baig, Asad Alam Niazi, Dr Ramesh Kumar Vankwani and Mir Amir Ali Khan Magsi attended the meeting in person. Dr Farooq Sattar, mover of the bill, also attended. Senior officers from the Ministry of Commerce, Ministry of Law and Justice and National Assembly Secretariat were also present.<\/p>\n","protected":false},"excerpt":{"rendered":"
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