STPF-2019-24 to ensure exports driven economic growth: Razak Dawood

ISLAMABAD: Adviser to Prime Minister on Commerce Abdul Razak Dawood on Thursday said the policy objectives of Strategic Trade Policy Framework (STPF) 2019-24 are aimed at ensuring exports driven economic growth and it will also help moving from fact-driven to efficiency-driven exports.

While briefing to the NA, Standing Committee on Commerce and Textile, Razak Dawood said that under STPF -2001-24, the target of innovation driven exports would be achieved in the long term for improved competitiveness and efficiency of industry.

The meeting of NA Standing Committee on Commerce and Textile was held here under the Chairmanship of MNA, Syed Naveed Qamar.

The government, he said is focusing on export-oriented sector by reducing input costs and increasing productivity for attracting efficiency-seeking investment into export-oriented production and reducing relative “disincentive” for exporting activities.

“We want to improve the trade ecosystem by increasing institutional efficiencies and reducing cost of doing business.” he said.

He said the vision of STPF is to make Pakistan a dynamic and efficient domestic market and a globally-competitive export-driven economy.

He said the mission is to transform Pakistan from a factor-driven to an efficiency-driven economy by integrating with the global and regional value chains.

The Committee showed serious concerns over the crop insurance schemes offered to the farmers and asked the Ministry and National Insurance Company Limited to come up with better packages.

Chairman Committee Syed Naveed Qamar said that although the wheat crop has been damaged due to the weather calamities but there are sufficient stocks left from the past.

He opined that wheat should be deregulated and grading of wheat is necessary.

Chairman Standing Committee stressed to change the policy regarding sugarcane and said that this is high time to invest in other crops.

For dates crop, the Committee asked the Ministry to resolve the issue of running finance and remittance by taking the farmers into confidence, The committee desired to have more crops covered by Zarai Taraqiati Bank Ltd. (ZTBL).

The meeting was attended by adviser on Commerce ,Abdul Razak Dawood and MNA’s, Ali Khan Jadoon, Muhammad Yaqoob Sheikh,Muhammad Asim Nazir, Ahmed Hussain Deharr, Mian Muhammad Shafiq,  Ms. Wajhia Akram, Ms. Sajida Begum, Ms. Tahira Aurangzeb, Ms. Shaista Pervaiz, Syed Javed Ali Shah Jillani, Secretary along with Senior Officers.