Islamabad: A meeting of the Standing Committee on Commerce was held at the Parliament House, chaired by Mr. Muhammad Jawed Hanif Khan, MNA. The committee discussed key issues, including amendments to the Trade Organization Act and challenges facing the steel sector.

The focus was on recent changes to the tenure of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Representatives elected in 2024 were initially given a two-year term, but amendments reduced it to one year. The FPCCI requested an extension to align with the 2026 general chamber elections. The Chairman highlighted the importance of respecting the representatives’ expectations, while the Secretary of Commerce suggested an exemption provision to address the issue temporarily. The committee proposed extending FPCCI’s tenure by one year through a legislative amendment.

The committee also examined the Export Facilitation Scheme’s impact on the metal and steel sectors. A recent SRO by the Federal Board of Revenue excluded the steel sector from the scheme to curb duty evasion. Concerns were raised about over 1,000 containers stuck at ports due to these changes. The committee emphasized prompt resolution and continued consultation with stakeholders, recommending that copper be exempt from duties while iron and steel should be taxed.

The meeting concluded with a decision to pause the exclusion of the steel sector from the scheme until further recommendations from the Prime Minister’s Committee. The chairman stressed the need for stakeholder concerns to be addressed before a final decision.

The meeting was attended by several MNAs and senior officials from the Ministry of Commerce, DGTO, FBR, and FPCCI.