Proposal to convert National Savings into corporate body under study: National Assembly told

The government is considering a proposal to convert the Directorate of National Savings into a corporate body where rights of its employees would be fully protected under relevant rules and regulations. Responding to a query, Minister for Finance Shaukat Tarin told the National Assembly here on Monday that the proposal to convert the National Savings into a corporate body is under consideration.
The employees of National Savings are civil servants and their rights will be protected as per government rules and regulations. In a written reply, Minister for Commerce Makhdoom Amin Fahim said that sugar was imported by Trading Corporation of Pakistan (TCP) between February 2009 and August, 2009 through four tenders and per metric ton prices in US$ were 451.45, 474.40, 494.40 and 638 per metric ton in dollars. Ministry of Commerce does not fix the price of Sugar or any other commodity.
To another question, he said that the total strength of Commercial Attaches posted in Pakistan Embassies in Europe are 17 and in Latin /South America two only (one in Argentina and other in Brazil). The total quantum of trade between Pakistan and Latin/South American countries was US $561.654 million during 2008-09 (July-March). The exports from Pakistan were US $238.012 and imports to Pakistan were US $323.642.
Pakistan's trade with the EU during 2008-2009 stood at US $7,459.1 million. Pak EU trade has increased from US $6.12 billion in 2003-04 to US $10.40 billion in 2007-08 ie by 58.77 percent. Pakistan's exports have increased from US $3.72 billion in 2003-04 to US $5.18 billion in 2007-08 by 71.86 percent. Pakistan imports have increased from US $2.39 billion in 2003-04 to US $5.2. Trade balance remained in favour of Pakistan until 2004-05 when it was US $934.4 million, In 2005-06, Pakistan registered trade deficit of US $719.1 million, which dropped to US $618.42 million in 2007-08.
He said growth could only be achieved with the active contribution of trade officers posted in these regions. These officers are responsible for trade promotion, attracting inward investment and image projection of the Country. The officials seek and create opportunities for Pakistani exportable goods and services through product/market surveys and ensure that concerned parties in Pakistan were quickly informed of the opportunities identified.
These officials assist Pakistani exporters to exploit fully the opportunities through the provision of advice and support to specific export initiatives. The commercial attaches posted abroad in the embassies of Pakistan perform multidimensional activities aiming to increase the export of Pakistan and to have a better market access for Pakistani products.
Over the years Pakistan's exports to Argentina increased from US $28.485 million in 2004-05 to US $52.877 million in 2007-08 showing an increase of 85.6 percent. Pakistan's exports to Brazil at stood petty US $9.023 million in 2004-05. In 2007-08 our exports crossed US $67.348 million, thus recording an increase of 646 percent over 2004-05, he added.
Responding to another question, the Minister for Commerce said the import of tea, cosmetics, garments, dates and floor mosaic tiles during the last three years is as under: Around 291,283 tons of tea was imported from Kenya, Bangladesh, India, Indonesia and China; 39,209 tons of cosmetics from China, France, Hong Kong, Indonesia, Korea, Italy, USA, UK and UAE; 9,926,957 dozens of garments from China, USA, Canada, Hong Kong, Italy, Thailand, UAE and UK and 37,736 tons of dates were imported from Iran, Saudi Arabia and UAE. He said the imports of cosmetics could be controlled by increasing taxes on this item.