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Tag Archives: Ministry of Commerce

Uzbekistan shares list for tariff reduction under PTA

ISLAMABAD: The government of Uzbekistan has shared a request list of items for tariff reduction with Pakistan under the proposed Preferential Trade Agreement (PTA). This was disclosed in a consultative meeting to review progress to finalise the agreement. Secretary Commerce and other senior officials attended the meeting. An official announcement said the Ministry of Commerce is in the process of ... Read More »

Ministry of Commerce approves Rs950m for export related projects

ISLAMABAD: The Ministry of Commerce approved Rs950 million for export related projects to provide competitiveness to the export value chain. According to the press release, the Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood chaired the 19th Finance Committee meeting of the Board of Administrators of Export Development Fund (EDF) here the Ministry of Commerce. The ... Read More »

MoC issues import, export of e-commerce rules

ISLAMABAD: The ministry of commerce has issued rules for assessment and clearance of imported or exported goods through e-commerce. The ministry issued SRO 14(I)/2021 for the application of the rules that will apply for assessment and clearance of imported or exported goods of business to consumer (B2C) transactions through authorized dealer via designated customs stations. However, these rules will not ... Read More »

Govt focusing on e-commerce to promote knowledge economy

ISLAMABAD: Government was focusing on e-commerce to move forward towards digital Pakistan and promote knowledge economy through a Digital Pakistan Policy to facilitate growth of e-commerce. Member (IT) Ministry of Information Technology and Telecom, Syed Junaid Imam, addressing as Chief Guest at an e-commerce summit said this market has enormous potential in Pakistan due to exponential growth in broadband subscribers ... Read More »

Trade deficit widens to $17.3b in July – February

ISLAMABAD: Pakistan’s trade deficit widened by 9 percent or $17.3 billion during first eight months (July – February) 2020/2021 of the current fiscal due to surge in import bill for the period, according to provisional data released by the ministry of commerce. The trade deficit widened to 17.3 billion during first eight months of the current fiscal year as compared ... Read More »

Pakistan’s imports increases by $2.085b: Razak Dawood

ISLAMABAD: Adviser to Prime Minister for Commerce and Investment, Abdul Razak Dawood said that Pakistan’s imports increased by $ 2.085 billion during July to February 2021 as compared to the same period in last Fiscal Year 2020. The Ministry of Commerce (MOC) had conducted a preliminary analysis of this increase in import , the adviser said this on his official ... Read More »

Pakistan, India to increase trading hours at Wagah Border

ISLAMABAD: Ministry of Commerce (MoC) will implement the proposal of increasing number of operational hours at Wagah land route for trade with consultation of India consultation. “Pakistan and India held a meeting in January last year at Indian capital, New Delhi and both sides reached an understanding on increasing working hours at Wagah with an objective of round the clock ... Read More »

China to hold 2nd phase CPFTA talks on less than equal reciprocity principle

ISLAMABAD: While accepting the demand placed by the Ministry of Commerce, China has in principle agreed to hold second phase of negotiations with Pakistan on less than equal reciprocity principle in fovour of Pakistan. “The very term ‘less than equal reciprocity principle’ is normally used in General Exchange of equal or identical advantages or privileges, such as removal of traveling ... Read More »

Dar for addressing sugar millers’ issues, asks body to finalise recommendations in 3 days

ISLAMABAD: Federal Finance Minister Ishaq Dar, speeding up his struggle to address sugar millers’ problems, has directed a newly-formed committee to finalise its recommendations within three days. The Finance Ministry, in a statement issued to media, said that Senator Ishaq Dar had given instructions to the committee on issues facing sugar producers to have detailed deliberations on the problems faced ... Read More »

Majid Yousfani approaching ministries to become part of WeBOC

KARACHI: The Directorate General of Reforms and Automation, Customs is busy in finalising a list of over four dozen ministries and departments of the government to convince them to become part of WeBOC, the automated clearance system of the Pakistan Customs. Talking to Customs Today, the Director Directorate of Reforms and Automation, Abdul Majid Yousfani said that the exercise is ... Read More »

Processing of Afghan Transit goods automated thru WeBOC

KARACHI: Afghan traders and importers are no more required to submit a copy of Jawaznama duly verified by Afghan Consulate for processing of Goods Declarations because the required particulars of Jawaznama are being directly fed in the WeBOC system by the Afghan Ministry of Commerce. Jawaznama is a license issued by Ministry of Commerce of Afghanistan to its nationals for ... Read More »

AGP urges FBR to take measures to curb tax evasion

ISLAMABAD: The Auditor General of Pakistan (AGP) has urged the Federal Board of Revenue (FBR) to adopt measures to curb tax evasion via under-invoicing, misdeclaration, smuggling, inadmissible exemptions and refunds. In a report, the AGP has told the FBR to devise a mechanism, forcing field officers for compliance of provisions of SRO-678 (1) 2004. “Make necessary amendments in the rules ... Read More »

Free trade with S Korea: Commerce Ministry finalises TORs

  ISLAMABAD: The Ministry of Commerce is finalising terms of references (TORs) for carrying out study to explore possibilities of free trade agreement (FTA) with South Korea. Bilateral relations between Pakistan and South Korea relations refer to bilateral diplomatic relationship. Since the 1980s, the relations between two Asian countries have been improved and periodically enhanced. Both the countries have embassies ... Read More »

Commerce Ministry to set up land ports at Chaman, Wagah, Torkham

ISLAMABAD: The Ministry of Commerce is planning to establish Land Port Authority to supervise, monitor and accelerate trade with neighbouring countries, Customs Today learnt Tuesday. As per plans, initially three land ports will be set-up at Wagah, Chaman and Torkham to provide all the required facilities to the exporters and importers immediately on the beginning of their foreign visits or ... Read More »

Exporters want more rice export to S Lanka

KARACHI: Rice Exporters Association Chairman Rafique Salman has averred that he flouted proposal to Trade Development of Pakistan and Ministry of Commerce for increasing exports of rice. He added,  “We are exporting 6,000 metric tonnes of rice to Sri Lanka which can increased to 15,000 metric tonnes. This step will increase bilateral trade which will ultimately benefit Pakistan.” Talking exclusively ... Read More »

Commerce Ministry fears fall in exports to Afghanistan after NATO withdrawal

 Ministry of Commerce official says they are looking for alternative markets to bridge gap in exports Afghanistan is second largest importer of Pakistani goods after United States   By M ARSHAD   ISLAMABAD: The Ministry of Commerce (MoC) has started looking for alternative markets to bridge a gap in exports due to possible reduction in Pakistani exports to Afghanistan after ... Read More »

Pakistani mango export to EU increases by 8,500 metric tons in 2014

ISLAMABAD: Mango export from Pakistan to the European Union has increased by 8,500 metric ton than the last year. A well-placed source at the Ministry of Commerce (MoC) told Customs Today that this year mangoes’ export was 90,500 metric ton against 82,000 metric ton in 2013. The Pakistani mangoes also got better price this year. Sources said that the government ... Read More »

Dastgir orders TDAP to submit released funds’ report

ISLAMABAD: Federal Minister for Commerce Khurram Dastgir Khan has ordered the Trade Development Authority of Pakistan (TDAP) for submitting a comprehensive statement on the funds released for the projects He said this while was chairing a meeting of Board of Directors of Export Development Fund adding that the meeting members have taken decisions on several problems relating to export promotion. ... Read More »

German delegation to meet FBR chairman Bajwa today

Islamabad: The Assessment Mission of Pak-German Development Corporation will meet FBR Chairman Tariq Bajwa on Friday (today) at FBR Headquarters. The FBR Chairman will brief the delegation about tax system in Pakistan. He will meet the delegation at 10 am. The German delegation will prepare an assessment  report after  the meeting which will decide whether German government  is going to ... Read More »

Assessment for Trade Policy 2012-15’s implementation started

ISLAMABAD: The Ministry of Commerce (MoC) has started assessment of implementation on the Strategic Trade Policy Framework (STPF) 2012-15. At same time, process of preparation of new national trade policy has also been kicked off which will be completed by the end of next year. Reliable source has told Customs Today that MoC had started collecting data of achieved milestones ... Read More »