Senate Standing Committee on Commerce and Textile on Tuesday stressed the need for coordination and adopting integrated institutional approach to boost country’s trade. The committee show concerned on the trade decline in textile sector and sought report from ministry of commerce to improve trade in this sector.
The ministry of commerce and textile should align their direction in the right way to give a boost to the country’s export and to reduce the trade deficit, Chairman Committee Senator Shibli Faraz said while presiding over meeting of the committee held in parliament house on Tuesday. Shibli Faraz said “We require innovation to modernize the system for increase country’s trade for boosting economy.”
We are totally depending on export of textile and raw agriculture products which will never help us for increasing the exports,” he said. He said only reducing tariffs on import of machinery or other export oriented material would not helpful in increasing exports, but the government must have to take other initiatives to make the export oriented products more competitive and more value added.
He also asked the ministry officials to work out a comprehensive and doable policy framework in this regard. Secretary Commerce Muhammad Younas Dhaga informed the committee “We need export led growth and comprehensive policy frame work for sustainable growth in the country. He further informed that new business avenues and a comprehensive strategy were under development which could be shared with the committee in coming meeting.
The meeting also discussed the point of public importance raised by Senator Mian Muhammad Ateeq Shaikh in the Senate regarding collapse of power looms sector in Faisalabad.
The committee directed Secretary Textile ministry Shahrukh Nusrat to work out a strategy to revive the power loom sector in Faisalabad. Senator Nauman Wazir Khattak, Agmed Khan, Ghous Muhammad Khan Niazi, Atta ur Rehman, Nuzhat Sadiq, Secretary Commerce Muhammad Younas Dhaga and other officials of Ministry of Commerce attended the meeting.