ISLAMABAD: The Senate Standing Committee on Commerce, chaired by Senator Anusha Rehman, convened at the Parliament House to assess the allocation and utilization of the budget for the fiscal year 2024-25, as well as the proposed Public Sector Development Program (PSDP) by the ministry.
According to a statement by Senate of Pakistan, the meeting highlighted significant discussions, including the addition of 10 new trade missions, which Senator Rehman emphasized should be fully staffed. The Trade Development Authority of Pakistan (TDAP) has been allocated a budget of Rs 2.4 billion for the current fiscal year, with Rs 1.73 billion released by December. Nearly half of TDAP’s budget, 47 percent, is spent on salaries and benefits, amounting to Rs 565 million in the past six months, while promotional efforts have utilized Rs 246 million.
TDAP officials reported successful promotional activities, with expos like Food Expo, Texpo, and EHCS generating $2.42 billion in business last year. This year, TDAP has participated in 44 exhibitions to further promote Pakistan’s exports. Senator Rehman mentioned the need for a “Pharma Excel” initiative, urging TDAP to consider establishing a sectoral department for pharmaceuticals. The TDAP secretary assured that hiring a pharmaceutical consultant is underway.
The session also pointed out areas for improvement, such as better facilitation of trade leads from the Trade Information Office to relevant associations. Senator Rehman stressed the importance of enhanced communication and support to export-centric sectors.
Senator Bilal Ahmed Khan raised concerns about the minerals sector, questioning its under-utilization. TDAP officials responded that while they had showcased 28 sectors in Saudi Arabia, budget constraints made it challenging to create 28 divisions within TDAP. Despite limitations, TDAP officials emphasized their commitment to optimizing available resources for trade promotion.
The committee acknowledged the ongoing efforts of TDAP and Ministry officials to enhance trade and meet export targets. The initiatives, including the appointment of a pharmaceutical consultant, were viewed positively as steps towards fostering growth in the country’s export-oriented industries. The meeting was attended by Senators Sarmad Ali, Bilal Ahmed Khan, and Tallal Badar, along with representatives from attached sectors.