Senate body discusses mechanisms to achieve export targets set by PM

ISLAMABAD  –  A high-stakes meeting of the Senate Standing Committee on Commerce, chaired by Senator Anusha Rehman, discussed mechanisms to achieve the export targets set by Prime Minister Shehbaz Sharif with a particular focus on the barter trade mechanism with Iran.

The committee directed the Ministry of Commerce to fast-track summaries initiated for barter trade and for the import policy order.

The members directed the ministry to resolve the confusion on trade with Iran, Russia and Afghanistan through a barter system, versus the parallel trade ongoing under IPO.

Senator Saleem Mandviwalla reiterated the strategic importance of barter trade in tackling cross-border smuggling. “Barter trade with Iran and Afghanistan will help prevent smuggling,” he said.

Affected traders told the meeting that over 1,200 trucks have been stalled at the border, loaded under barter terms, with sesame and rice being exported without involving dollar payments.

The committee agreed to hold a meeting with the ministers of finance and commerce, and Governor State Bank of Pakistan over the issue.

The meeting approved formation of a sub-committee headed by Senator Sarmad Ali and comprising of Senators Zeeshan Khanzada and Faisal Saleem Rahman to provide recommendations on the tobacco sector. It was agreed that the issue of counterfeit medicines will be reviewed by the Standing Committee on Health.

Trade and investment officers (TIOs) posted abroad also briefed the meeting on potential trade opportunities, marking a continued commitment to expanding Pakistan’s global trade footprint.

Senators Sarmad Ali, Faisal Saleem Rahman, Bilal Ahmed Khan, Hamid Khan, Amir Waliuddin Chishti, Saleem Mandviwalla, and Zeeshan Khanzada, along with senior officials from the Ministry of Commerce, representatives from the private sector, and international trade officers posted abroad attended the meeting. Minister of State for Interior Tallal Chaudhry was also in attendance.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}