A primary negotiator, an officer of Customs group reportedly with alleged close links with India during his posting at Pakistan-India border, has been declared persona non grata, well informed sources told Business Recorder on Saturday.
This may account for the government's decision to review all operational free trade agreements (FTAs) that the official was involved with, that include Sri Lanka, China and Malaysia. Commerce Minister Makhdoom Amin Fahim, in an exclusive talk with Business Recorder, said: "We will review the FTAs to assess their impact on our trade."
He lamented that the inflow of imports was on the higher side as against the growth in exports. Replying to a question, Makhdoom Amin said that Pakistan had urged all partner countries, especially the US and European Union (EU), to focus on trade, not aid. "This plea is not unique for this government, but its results to-date have not been encouraging."
Answering another question, the minister said he personally met World Trade Organisation (WTO) Director General Pascal Lamy in Geneva and discussed several issues being faced by Pakistan with regard to trade. Asked if he had any reservations over the recently announced monetary policy, he said that he had started consultations with the trade bodies to finalise recommendations.
Official sources revealed that the delegation of Islamabad Chamber of Commerce and Industry (ICCI), which recently met with the Commerce Minister, had raised serious concerns over the current interest rate. Makhdoom Amin Fahim was optimistic about increase in exports; though he acknowledged the difficulty given the global economic melt down in Pakistan's two major trade partners, ie the EU and the US.
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