Moaaz Manzoor

The Senate Standing Committee on Commerce was informed on Thursday that sectoral councils had been expanded from 17 to 20, while the committee also reviewed difficulties in barter trade with Iran and amendments to SRO 642(I)/2023.

The meeting, chaired by Senator Anusha Rahman, was attended by Senators Saleem Mandviwalla, Rahat Jamali, Ahmed Khan and senior commerce officials, including Additional Secretary Salman Mufti, Additional Secretary for Trade Diplomacy Nasir Hamid, Executive Director General Muhammad Ashraf, and DGTO Bilal Khan Pasha.

Executive Director General Muhammad Ashraf told the committee that the sectoral councils, operating under the Strategic Trade Policy Framework 2020-25, provide a structured platform for dialogue between the public and private sectors. Their role is to resolve systemic and sector-specific issues, strengthen competitiveness, propose reforms, and better integrate Pakistani industries into global value chains.

According to the Ministry of Commerce, the 20 councils are divided into four clusters: agro-food, manufacturing and mining, services, and textiles. Together, they cover key sectors ranging from rice, meat, dairy, and fisheries to engineering, pharmaceuticals, IT, tourism, fibres, yarn, and apparel.

The committee was told that some councils are already showing results. The pharmaceutical council, for example, has outlined a National Pharma Vision 2030 aimed at reducing reliance on imported raw materials, incentivising research and development, and expanding exports from $270 million in 2020-21 to over $600 million by 2024-25.

Senator Anusha Rahman underscored the need for sectoral councils contribute to Pakistan’s business and trade diplomacy, positioning the country more competitively on the global stage.

The committee also examined operational problems in the barter trade system with Iran. Members noted that the mechanism is particularly important for border communities and regional traders who rely on non-cash trade in essential goods. They stressed the need to quickly resolve bottlenecks in procedures and verification, especially in the context of proposed amendments to SRO 642(I)/2023.

The committee observed that strengthening sectoral councils and streamlining barter trade arrangements would support Pakistan’s efforts to boost exports, diversify markets, and build resilience against external economic pressures.

Credit: INP-WealthPk