Attending a trade sector meeting, the prime minister ordered the exporters’ verified duty drawback to be paid immediately and recommended actions to encourage the export of non-traditional commodities. In order to support the auto industry, he emphasized the importance of the private sector and directed that their input be sought out while formulating policies. He also directed that the deletion policy be adopted.
In order to evaluate the performance of trade and investment officers stationed in Pakistan’s overseas missions and to identify and remove incompetent officers, Prime Minister Shehbaz instructed the relevant ministry to develop a comprehensive strategy.
Speaking to the group, the prime minister announced that he would do the biweekly evaluation of the export industries himself.
During the meeting, the prime minister was informed that talks for a free trade agreement between Pakistan and the Gulf states were nearing their conclusion, and that transit trade agreements with Tajikistan and Uzbekistan had already taken shape.
Approximately 450 business-to-business meetings were held during the last Pak-Saudi Business Conference, and the number of e-commerce transactions was continuously rising with over 3,000 companies signing up for the Pakistan Trade Portal, according to information presented to the meeting.
In addition, the meeting was informed of the tight oversight of the Afghan Transit Trade, the double-digit premium growth of public sector insurance businesses, the completion of the Gem Export Framework, and the preliminary consent given by Pakistan and Russia to operationalize the barter trade.
The New Strategic Trade Policy and the preferential trade agreements with Afghanistan and Azerbaijan were said to be the subjects of ongoing stakeholder consultation.
The Technology and Innovation Fund for industrial development was also being established, requiring the enactment of the relevant legislation.
Federal Ministers Muhammad Aurangzeb, Ahad Khan Cheema, Dr. Musaddik Malik, Jam Kamal Khan, and Jahanzeb Khan, Deputy Chairman of the Planning Commission, as well as pertinent senior officers, attended the meeting.
