The proposed Export-Import Bank (Exim Bank) is likely to start functioning by December, the Senate Standing Committee on Commerce was apprised on Wednesday. In this regard, Rs7b has already been disbursed.
An official from the Ministry of Commerce is reported to have said that the names of 3 people have already been sent to the Finance Minister for appointment as members of the bank.
The committee chaired by Senator Shibli Faraz, has asked the Ministry of Finance to provide all relevant details relating to the bank in the next meeting.
The committee also suggested amendments to the Trade Development Authority Act (TDAP) for appointment the chief executive officer (CEO) on merit. The current CEO of TDAP has successfully completed his term and the new head needs to be appointed soon. The committee vowed all possible support to the commerce ministry with regards to implementation of changes.
The meeting also discussed issues in exporting of fruits and vegetables including recommendations on changes in processing and packaging of fruits and vegetables.
Moreover, the committee suggested ways to add value addition to the processes in the agriculture sector, especially dates.
Senator Naseema Ehsan was apprised that the middlemen are purchasing dates at a rate of Rs700 per 40kg in Balochistan – much lower than the market price.
Senator Mufti Abdul Sattar showed concern over the wastage of grapes and apples in Balochistan owing to a lack of proper storage facilities.
The official revealed government’s plans of setting up an industrial park in Khairpur for showcasing and selling of fresh fruits to the committee.
The official informed the senators that the government had decided to close down the horticulture board owing to poor performance adding that the centre of the board’s location in Quetta was also inappropriate.
In response, the senators suggested probing into who was behind the establishment of the centre.
It was also informed to the committee that the federal government had disbursed Rs10m in Balochistan for the procurement of the machinery for apple grading.
The delay in the implementation of strategic trade policy framework be discussed in the next federal budget, the committee recommended.
