KARACHI, Aug 6: Federal Commerce Secretary Tasneem Noorani has invited proposals from business community for improving trade ties with India especially in the wake of upcoming meeting between the trade ministries of the two countries, scheduled for August 11 and 12.

He was speaking at a luncheon meeting with members of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here at Federation House on Friday.

Responding to the presentation of FPCCI president Riaz Ahmed Tata, the federal commerce secretary said he had come to Karachi to hold meetings with the stakeholders for implementation of trade policy initiatives recognizing the need for improved industrial infrastructure.

"We have started to giving effect for trade policy initiatives which are addressing the issues arising out of challenges of WTO." He said the decision of the developed countries under WTO to withdraw subsidy on export of agricultural products would benefit developing countries including Pakistan as their products would become competitive on the world market but its effect would be felt in next 4 to 5 years.

He said industrial estates' rehabilitation plan and setting up of effluent plants had been entrusted to Export Promotion Bureau (EPB) which should find a paradigm shift and it was more appropriate to engage professionals to this job.

The secretary said his ministry was seeking appropriate allocation from Public Sector Development Programme (PSDP) for improving industrial infrastructure to act as promoter of industrial and export interests.

He also supported the FPCCI president that Exporters Development Fund (EDF) should not lapse and through amendment in EDF Act the leftover fund would be carried forward to next year. This would address the concern of private sector. "The matter has been discussed in the Federal Cabinet and a decision would be taken after discussion with the stakeholders," he said. -APP