ISLAMABAD: The Commerce Ministry has included nine projects to Public Sector Development Program (PSDP) 2023-24, of which two projects are ongoing. Briefing the Senate Standing Committee on Commerce headed by Senator, Zeeshan Khanzada, Secretary Commerce, Sualeh Ahmad Faruqui apprised that two ongoing and seven new projects have been finalised for 2023-24.
The ongoing projects include Expo Centre Quetta and Expo Centre Peshawar with an estimated cost of around Rs. 5000 million but the delay in fund allocation resulted in price hike of Expo Centre Peshawar project, with the current estimated cost of Rs.4200 Million as per the revised PC-I of the project.
The seven new schemes include Establishment of Analysis Wing in MoC, Faisalabad Garment City Phase-II, Lahore Garment City Phase-II, Integrated Skill Development Scheme for Export Enhancement of Textiles & Apparel Industry, Technical Assistance for improvement of Environmental & Social Compliance Requirements to Enhance Exports (2022-27), Establishment of Integrated Textile & Garment Park (ITGPs) Karachi, Establishment of Research & Product Development Fund with cumulative estimated cost of around Rs. 15.625 billion.
Rs601m for 7 PSDP projects approved by NA body
The Chairman Committee directed the Planning Division to allocate the remaining amount for the ongoing projects so that their timely completion could be ensured.
The Senate body deliberated on the Bill titled “The Copy Right (Amendment) Bill, 2022”. Senator Faisal Javed Khan, mover of the Bill, reiterated that the bill provides Pakistan Entertainment fraternity the right to receive royalties for their contribution. He further added that the majority of artists belong to lower middle class and are not getting paid for their work and the bill is targeted to redress their grievances.
Farrukh Amil, Chairman International Property Organisation (IPO), commended the bill and stated that the IPO is working on the matter since long and intends to consult the relevant stakeholders for their input. The Committee recommended the IPO to conduct public hearing with stakeholders for their feedback on the matter in the next 15 days.
Senator Faisal Javed, the mover of Bill complained that the concerned authorities are not cooperating with him on the Bill.
While deliberating on the current trade deficit, Muhammad Sualeh Ahmad Faruqui, Federal Secretary Commerce, commented that exports have declined by around 17 percent and imports have decreased by around 22.5 percent during the last seven months.
Copyright Business Recorder, 2023
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