Trade Pol­icy Frame­work 2015-18

Enterprise - - National news -

The Min­istry of Com­merce has fi­nal­ized a new Strate­gic Trade Pol­icy Frame­work 2015-18 which would be an­nounced soon af­ter the ap­proval of the Prime Min­is­ter.

The Frame­work was fi­nal­ized in con­sul­ta­tion with all stake­hold­ers and was sub­mit­ted to the Prime Min­is­ter for fi­nal ap­proval, a se­nior of­fi­cial privy to trade pol­icy for­mu­la­tion told.

He said that un­der the new strate­gic trade pol­icy frame­work 2015-18 the ex­ports of the coun­try would be en­hanced to $35 bil­lion by the end of the year 2018. Ev­ery year around $4 bil­lion would be added to the ex­ports, he re­marked.

High­light­ing some of the main fo­cus of the pol­icy, the of­fi­cial said that un­der the pol­icy in­cen­tives would be given to the ex­porters be­sides pro­vid­ing them soft-term loans for the pur­chase of tech­nol­ogy for prod­ucts upgra­da­tion and value ad­di­tion to make the ex­port ori­ented in­dus­try com­pet­i­tive in the in­ter­na­tional mar­kets.

He added that old FTAs and PTAs would be re­viewed and im­proved for the ben­e­fits of Pak­istani ex­porters and their prod­ucts.

The of­fi­cial said that the Com­merce Min­istry and its sub­or­di­nate or­ga­ni­za­tions in­clud­ing Trade De­vel­op­ment Au­thor­ity of Pak­istan (TDAP), Do­mes­tic Com­merce Wing and Trade Dis­pute Res­o­lu­tion or­ga­ni­za­tion would be strength­ened fur­ther for the ben­e­fit of the coun­try’s ex­ports and fa­cil­i­ta­tion of the ex­porters.

He said that carry for­ward poli­cies of the pre­vi­ous trade pol­icy would be im­ple­mented in­clud­ing the start of op­er­a­tions of EXIM Bank (Pak­istan) for the sup­port of the ex­porters.

He said Draw­back of Lo­cal Taxes and Levies (DLTL) would also be looked into in the new trade pol­icy.

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