NA panel alarmed over trade deficit with China

A National Assembly standing committee on commerce has expressed serious concern over Pakistan's persistent trade deficit with China and other Free Trade Agreement partners, according to Dawn. The panel, which met on Wednesday under chairman Jawed Hanif, asked for a comprehensive review of the factors behind the imbalance.

The committee reviewed proposed tariff changes, export promotion steps, the working of key trade bodies, ties with major trading partners and draft legislative amendments. It also asked for material on the Saindak project and mineral shipments, so it could judge whether the country earns a fair economic return from its minerals.

Members were briefed on the proposed GSP+ scheme, which begins on Jan 1, 2027, along with its transition period and compliance conditions. The ministry of commerce was told to prepare a detailed report on Pakistan's readiness, the opportunities and challenges, and the steps needed to get the most from it, along with presentations on the Export Development Fund, trade with Malaysia and Indonesia, and mineral exports.