Islamabad - The federal government is likely to allow the overseas Pakistanis to import cars under personal baggage rules in the new trade policy for 2005-06 to be announced on July 21.
Officials said that a proposal had been made for the import of cars under new baggage rules by the ministry of commerce. However, the final decision would be taken by the federal cabinet over the issue before the announcement of the new trade policy on the same day.
Sources said that a set of proposals including the import of cars by the expatriates would also be placed before President Gen. Pervez Musharraf by Minister for Commerce Humayun Akhtar Khan for approval. Khan is believed to have also favoured a number of other facilities and concessions for the overseas Pakistanis in the new trade policy that has been delayed due to unspecified reasons.
The commerce ministry has reportedly finalised rules for the import of cars under personal baggage scheme. Various bodies of the expatriates had sought a number of favours from the government in the new trade policy including to allow them to import cars.
The new trade policy was also expected to allow the export of ghee and cooking oil to Afghanistan.
The government would appoint marketing officers in those countries where commercial sections of Pakistan had not been established due to financial constraints. These officers would interact with local companies and individual exporters to enhance the share of Pakistani goods in the local market.
The commerce ministry officials have also reportedly estimated over $16 billion exports and $22 billion imports targets for the financial year 2005-06. However, these targets would be finalised and announced with the consent of the president and the prime minister.
It was also being said that the government would announce a 'warehousing scheme' in the new Trade Policy, according to which warehouses would be established in countries where a good demand of Pakistani goods exists.
For encouraging the pharmaceutical sector, a scheme is also expected to be announced carrying incentives for pharmaceutical firms whose exports exceeded $300 million during the last financial year. It is also expected that a scheme would be announced to facilitate re-export of defective imported goods on the recommendations of the importers.
Similarly, incentives for development of footwear sector, promotion of organic cotton, exports of gems, jewellery and metals were also expected to be the part of the new Trade Policy. Some of the changes in export policy of defence goods were also likely to be announced through streamlining the office of Director General, Defence Production unit of the ministry of defence.
The government would also lay stress on the business community to explore markets in those countries with which preferential trade agreements and free trade agreements have been signed or likely to be signed shortly.
© Khaleej Times 2005
