Shibli Faraz chairs Senate Committee on Trade and Textile

Mr. Younus Dagha addressing the Senate Committee on Trade and Textile said that, positive progress has been made on Free Trade Agreement with China. Chinese authorities have agreed to our requests for access to data as previously they had been reluctant to do so.

The Free Trade Agreement had reached a deadlock after Pakistan showed reservations regarding trade of certain items, which were resolved recently when a trade delegation visited China to solve the impasse.

Pakistan had requested Chinese authorities to release data relevant to trade with Pakistan in order to curb under invoicing.

Mr. Dagha further said that, The Free Trade Agreement has been agreed in tandem with keeping National Interest as a priority. The data requested will be passed on to State Bank Ltd. (SBP) and Federal Board of Revenue (FBR), which would then be made online to facilitate stakeholders.

Mr. Dagha informed the Senate Committee that transfer of data online will be done by December, 2017.

Senate Committee will be briefed on National Tariff Commission in the nest session, the committee also approved Export Centers in Quetta, Peshawar and Islamabad. Budgets have been allocated to all three centers which will facilitate stakeholders in trade related queries and encourage data provision.