A National Assembly committee on Wednesday voiced concern over the continued decline in Pakistan’s commodity exports, while the commerce ministry defended its policy direction and outlined measures aimed at boosting export performance.
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The National Assembly Standing Committee on Commerce, chaired by Jawed Hanif Khan, met to review legislative business and discuss a Calling Attention Notice on export trends, along with broader economic and trade issues such as the widening trade deficit and investment patterns.
Officials from the commerce ministry briefed the committee on the upcoming Strategic Trade Policy Framework, sector-specific roadmaps for key export industries, and the National Tariff Policy 2025–30. However, they did not provide specific reasons for the persistent decline in exports, prompting concern among committee members.
The ministry outlined several proposed measures to reduce the cost of doing business, including the rationalisation of industrial energy tariffs, provision of concessional financing, timely clearance of exporters’ refunds, abolition of the Export Development Surcharge, and simplification of trade and regulatory procedures. Committee members, however, questioned how effectively these steps would translate into tangible cost reductions and improved competitiveness for exporters.
The committee was informed that efforts were underway to retain Pakistan’s GSP+ status with the European Union, review existing trade agreements, and pursue new free trade agreements (FTAs) and preferential trade agreements (PTAs). Officials reiterated the government’s commitment to maintaining a stable and export-friendly policy environment through sustained reforms and enhanced public-private partnership, despite ongoing global trade challenges.
On the trade deficit, the ministry acknowledged continued pressure on Pakistan’s external account due to limited export earnings and reliance on remittances. While remittances have helped provide short-term relief, officials stressed that long-term economic stability depends on significantly increasing export volumes and diversification.
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The committee also discussed revising value-addition requirements under SRO 760(I) 2013 governing the import and export of precious metals and jewellery. The chairman directed that the State Bank and other stakeholders be invited for a detailed review in the next meeting.
Additionally, a sub-committee was formed to examine the Life Insurance Nationalisation (Amendment) Bill 2026, while the State Life Insurance Corporation briefed members on its investment strategy and financial performance.