NA panel sceptical about $60b exports
The National Assembly Standing Committee on Commerce on Wednesday raised the question whether the government's plan to increase exports to $60 billion by 2029 in current economic and industrial landscape was feasible.
"We believe your targets are not realistic," the committee chairman remarked as officials briefed the panel on the country's export strategy.
Speaking on the occasion, committee member Shaista Pervaiz pointed out the stark decline in cotton production, which once stood at 14 million bales but has now dropped to 5.5 million bales. "Look at the current state of cotton production," she lamented.
The officials defended their projections, citing factors like Reko Diq's potential, Chinese investments, and global trade trends. They noted that several countries with zero cotton production still managed to export 40 billion worth of textiles annually.
"That's exactly what we're saying. Show us some exceptional performance," the committee chairman said.
Expressing concerns over the internet issues, the committee chairman asked how the exports could grow when digital connectivity remained unstable in the services sector.
The officials from the Trade Development Authority of Pakistan (TDAP) assured the committee that tax and power tariff issues for the textile sector would be addressed. However, they admitted that Pakistan never witnessed a 60% increase in agro-based exports in any given year.
The TDAP officials reported that last year agricultural exports reached $1 billion and that flagship trade events contributed to export growth in multiple sectors.
They highlighted that in the current fiscal year 124 international exhibitions showcased Pakistani products, 11 trade delegations visited Pakistan and 10 Pakistani trade delegations participated in international trade events.
Dismissing the significance of trade fairs, committee member Gul Asghar Khan argued that "no matter how many exhibitions we hold, unless we resolve traders' issues, nothing will change".
Khan expressed frustration over the disconnect between official briefings and ground realities, saying "in meetings it felt as if there were no country like Pakistan" but regretted that no tangible results were being achieved to increase exports.
Committee member Rana Atif pointed out that in 2022 total exports were $32 billion but instead of increasing they dropped to $28 billion in 2023.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
5 minutes ago
- Express Tribune
A world of blocs: where Pakistan stands
Listen to article During the Cold War, the world was divided between capitalist and communist blocs. Today, the world is again divided, with the new division referred to as the new Cold War. The two great powers around which this geopolitical division is centred are the United States and China. The interesting aspect of the new Cold War division is that countries that prefer to side with one bloc or another not only typically pick a side but also, by doing so, demonstrate their preference for a global order. Both China and Russia advocate a world structured around a multipolar order, with institutions such as SCO, BRICS and AIIB (Asian Infrastructure Investment Bank) being pushed forward as alternative institutions to lead this order. The global promotion of BRI by China is also reflective of the transition of the order towards multipolarity. Which bloc does Pakistan belong to? This is the most frequent question that is asked whenever Pakistan's relations with great powers come under discussion. It may be fair to assume that if this question is asked of the people on the streets, a majority will vote for Pakistan being part of the Chinese bloc. But seen objectively, and seen from the perspective of the dominant interactions that determine which bloc a country belongs to, we might get a different answer. Of late, Pakistan's foreign policy seems to be following the concept of strategic balancing and non-alignment. To be fair, Pakistan has enjoyed an unquestionable relationship of deep-rooted state-to-state friendship with China. China never attached the 'you are with us or against us' string to its relationship with Pakistan. While the US relationship with Pakistan has been 'issue-based', the fundamental determinant of China's relationship with Pakistan has been geography. Some of the dominant interactions that determine which bloc a country belongs to are in the field of politics/diplomacy, economy, military/security and cultural and state signaling. State signaling is immediate in the context, more fluid, and nevertheless an important determining factor. Take the case of the visit to the US of Pakistan's army chief. The general had a meeting with President Trump in June this year. This was unprecedented as President Trump met the army chief without having met either the President or the Prime Minister of Pakistan. This was unprecedented, and there are reports that the army chief might be undertaking another visit to the United States very soon. If state signaling is a determining factor, then the two states in the immediate context are giving a clear signal. From the American point of view, it needs security partnerships in the region and with the US imposing 50% tariffs on Indian imports, and India in return accusing the US of hypocrisy, it might just be the right time for Uncle Sam to play ball with Pakistan. Economically, Pakistan provides access to a market not as large as the Indian market, but still access to the market of an influential player in the region. More than the economy, the military/security drives the current Pak-US relations. The Iran-Israel and Russia-Ukraine wars tell us how the form of warfare has changed. Both Germany and Japan used new technology, which at that time was aircraft, tanks, submarines and aircraft carriers, to pursue outright conquests during World War II. Drones, missiles of all kinds, including hypersonic missiles, and fifth-generation aircraft are the new offensive weapons. If great powers can position such lethal military capabilities at strategic locations, would they need boots on the ground as many as the world needed before the introduction of these lethal military capabilities to generate military influence in a region? What is meant when it is said that a country that joins a bloc indicates its preference for a given world order? The US and its allies have built a liberal order at home, but the order abroad is illiberal. Interestingly, the people of the global south, and particularly the people out on the streets, believe that they have also played an active role in the promotion of this illiberalism abroad. Are China and Russia promoting illiberalism abroad? China has proved to the world that development does not require democracy, that liberalism is not history's natural endpoint. There is no Russo-centric or Sino-centric global order that these two great powers pursue. All that these great powers are doing is resisting an international system that slaps sanctions, imposes arbitrary tariffs, executes military interventions disregarding international law, violates human rights and turns a blind eye towards genocide. When President Putin demands that NATO roll back to the Cold War frontiers or President Xi expects the US and its allies to stay away from its sphere of influence in the South China Sea and the Eastern Pacific, they reassert their great power status within the system. A global order that practices freedom and liberty at home and overlooks democratic abuses abroad cannot be termed a global order of liberal internationalism. That is why this international system faces opposition and contestation, and that is why there are two distinct blocs in the world. The one that promotes this international system and the one that contests it. As long as the system remains immoral and hypocritical, both China and Russia will continue to lead the fight to weaken this system. As far as Pakistan is concerned, our foreign policy decisions must fundamentally be based on pragmatism, but our policy must never draw away from the gravitational pull of geography. Today, a three-dimensional premise defines our security dilemma. American premise: the more the US engages with Pakistan, the more Pakistan will draw away from China and Russia. Pakistan's premise: the more India deals with Afghanistan, the more it will draw away from Pakistan. And the Chinese premise: the more Pakistan engages with the US, the more it will draw away from China. It's not bad to understand premises; it gets bad only when states start formulating the wrong questions and end up making wrong assumptions that eventually drive their policies. The US remains far and away, and its obsession with Pakistan is driven by issues in which Pakistan is expected to play a role to serve primarily the US interests. With the US, we can push our relationship, but we must never ignore or avoid the geopolitical and strategic pull towards China.
Express Tribune
4 hours ago
- Express Tribune
Dar orders faster visas for overseas Pakistanis, investors
Listen to article Deputy Prime Minister and Foreign Minister Ishaq Dar has ordered further steps to streamline visa procedures, boost transparency, and speed up processing—especially for overseas Pakistanis, investors, and business travellers. Chairing a meeting to review the visa facilitation initiatives introduced in 2024 under his guidance, Senator Dar emphasized the need for sustained institutional reform in consular services to better serve overseas Pakistanis and promote economic engagement. According to a statement issued by the Foreign Office, the meeting assessed progress on procedural reforms implemented across various missions. Officials briefed the Deputy Prime Minister on efforts to simplify application processes, reduce delays, and introduce digital tools to enhance service delivery. Also Read: Defence minister refutes IAF chief's claim of shooting down Pakistani jets The foreign minister emphasised the need to cut red tape and improve access for the Pakistani diaspora and economic stakeholders overseas. Dar noted that timely visa issuance is vital not only for strengthening ties with the diaspora but also for attracting investment and promoting international business directed the ministry to identify further areas for improvement and ensure that missions abroad adhere to best practices in visa processing. He directed the ministry to identify further areas for improvement and ensure that missions abroad adhere to best practices in visa processing.
Business Recorder
5 hours ago
- Business Recorder
FIA arrests one more in ongoing crackdown against illegal currency dealers
KARACHI: The Federal Investigation Agency (FIA) reported on Saturday its Lahore circle had arrested an illegal currency dealer allegedly involved in currency smuggling (hawala/hundi) from capital city of Punjab province. The development came a day after a Pakistan court sentenced three illegal currency dealers to five years in prison and imposed a fine of Rs1 million on each for their involvement in unlawful foreign exchange trading. So far, the law enforcement agencies including the FIA has announced the arrest of a total of four illegal currency dealers in the past two weeks – since a crackdown was launched against illegal currency dealers and smugglers. The law enforcement agencies have intensified the ongoing crackdown to help Pakistani rupee recover against US dollar and other world major currencies. According to the FIA statement on Saturday, FIA Corporate Crime Circle Lahore arrested the suspect from Azam Cloth Market, Lahore, as the circle intensified the ongoing crackdown against illegal currency dealers and hawala/hundi operators. The suspect was identified as Gul Ameer, a resident of city Peshawar, Khyber Pakhtunkhwa (KP), the FIA statement read. The federal agency recovered Pakistani currency worth Rs6.4 million during the raid, it added. 'Hawala/hundi receipts and other digital evidence were also recovered from his possession.' 'The suspect has been taken into custody and investigation has been initiated. Raids are being conducted to arrest other accomplices of the suspect.' On Friday, Pakistan's court of the First Additional Sessions Judge, Sukkur, jailed three illegal currency dealers for five years and imposed a fine of Rs1 million each. The convicts were including Qamar Shehzad, Muhammad Zeeshan, and Zubair Asghar. The FIA Composite Circle Sukkur had registered the case against them. The crackdown has supported the domestic currency strengthened against US dollar and other currencies in inter-bank and open markets in recent days. According to State Bank of Pakistan's (SBP) data, the rupee has regained a total of Rs2.4 against US dollar since launch of the crackdown on July 23, 2025 to date, closing at Rs282.5/$ in the inter-bank market on Friday compared to Rs284.9/$ on July 22, 2025. Earlier, the rupee had lost almost Rs3 to a dollar in the prior seven weeks to Rs284.9/$ on July 22, 2025 since June 1, 2025. Talking to Business Recorder on July 23, Exchange Companies Association of Pakistan (ECAP) chairman Malik Muhammad Bostan said he had led a currency dealers' delegation to the Director General of Counter Intelligence (DGC) at the Inter-Services Intelligence of Pakistan (ISI) in Islamabad. According to an ECAP statement then, Bostan apprised the DGC about the currency smuggling to Iran and Afghanistan. 'Due to higher black market rates, the supply of dollars is decreasing to legal currency dealers day-by-day,' he was quoted as saying in the statement. 'On this, General Faisal Naseer [DGC] immediately ordered law enforcement agencies to crack down on currency smugglers and arrest them,' the ECAP said.
