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Trade deficit to decrease by Rs 6 billion by end of FY 2018-19, PAC told
The Public Accounts Committee (PAC) on Monday was informed that the trade deficit would be decreased up to Rs 6 billion by end of current fiscal year due to steps taken by the government. Secretary Ministry of Commerce Mohammad Younus Dagha told the PAC that exports of the country had registered five percent increase and […]
The Public Accounts Committee (PAC) on Monday was informed that the trade deficit would be decreased up to Rs 6 billion by end of current fiscal year due to steps taken by the government.
Secretary Ministry of Commerce Mohammad Younus Dagha told the PAC that exports of the country had registered five percent increase and the imports were on decline due to increase in duties on luxuries items. He also expressed the hope that exports would be further increased in textile sector because the United States was also looking towards Pakistan due to a tussle between US and China. The devaluation of rupees also made the Pakistani products more attractive in international market. The Secretary informed the PAC that Pakistani Kino, Basmati rice exports have shown upward trend.
Answering the questions of PAC members, the Secretary Commerce said the government was also exporting wheat and currently the international prices were also very attractive. About export of fresh fruits, the secretary said the Plant Protection department was playing an active role in certification process which would be acceptable internationally. In this regard, he said the kino exports were continuing to Europe, Japan, US and several other countries.
Secretary Dagha also gave detailed presentation over trade officers abroad, who were appointed for improvement of exports and trade. He said the government had reviewing its appointment procedures. There were 58 positions of trade officials in 42 countries. In some countries, the number was kept higher keeping in view the potential of trade there. In Africa, there were 4 stations and now the government wanted to increase it to 10 stations accounting for the potential of increased trade.
The PAC advised the secretary to give preference to those individuals (trade officials) who have the concerned country language advantage. Member PAC Khawaja Asif also suggested that people from local diaspora should also be considered because they were already living in respective countries and well knew local language, tradition etc. He said that countries like Germany, China, and in Gulf gave more preference to local language instead of English. The secretary told the committee that the diaspora appointment was also under consideration because it would save government expenditure up to some large extent. However, there was strong resistance against the appointment of trade officials from diaspora.
About parliamentary forum, which the national assembly has with other countries’ parliamentarians, the secretary said such forums helped the country in GSP Plus status granted by European countries to Pakistan. In future, he said the forum could also play vital role in increasing country trade with rest of the world.
Secretary Mohammad Younus Dagha also told the PAC that the government was planning to change the appointment criteria of trade officials. Now, three month training would be provided to each official before being sent abroad for the mission. He said that performance of already appointed officials was thoroughly monitored and in this regard seven officials were called back over poor performance.
The PAC also took up/ discussed some audit paras from ministry of commerce.
Published in Daily Times, February 5th 2019.
