'No Pakistani trade office in China'

Senator Anusha Rahman chairs the Senate Standing Committee on Commerce, which met on Tuesday and was briefed on Pakistan's absence of a commercial presence in China, according to The Express Tribune. The agenda also covered last year's trade results, special economic zones and the rising costs businesses face. Commerce Minister Jam Kamal Khan, the Secretary Commerce and the TDAP chairman attended.

Officials noted that foreign chambers in China may take the form of a joint chamber or a branch, and that no Pakistani joint chamber or trade representative body is registered there now. Setting up a joint chamber calls for 50 members from each country and at least 100,000 Chinese yuan in operating funds, with applications routed through the Pakistani ambassador. Senator Rahman questioned why no such body exists and stressed that it is vital to bilateral trade, though the Secretary Commerce said trade organisations were better placed to respond.

On exports, the TDAP chief executive said the authority is often blamed for weak results, although performance also hinges on power tariffs, production expenses and borrowing charges. Commerce Minister Jam Kamal Khan named energy expenses, taxation and borrowing as the chief hurdles for firms and said the IMF programme has restricted government options. Senator Aamir Waliuddin Chishti pointed out that FDI inflows have seldom exceeded $2 billion, which he said also holds back exports.