ISLAMABAD: The proposed Export-Import Bank (Exim Bank) will be operational by December and Rs7 billion has already been released in this regard, the Senate Standing Committee on Commerce was informed on Wednesday.

“We have sent names of three persons for appointment as members of Exim Bank to the finance minister,” a senior official of Ministry of Commerce informed the committee.

The committee, led by its chairman Senator Shibli Faraz, sought details of the bank from the Ministry of Finance in its next meeting.

The committee proposed amendments to Trade Development Authority Act (TDAP) for appointment of its chief executive officer (CEO) on merit.

The committee will provide all necessary help to bring changes in the law, the committee assured the commerce ministry.

The incumbent CEO of TDAP has completed his term and the new head will be appointed soon.

Vegetable exports discussed

The meeting also discussed issues in exporting of fruits and vegetables.

The committee recommended a policy on promoting value addition in agriculture sector, especially dates. It was recommended to introduce new methods for the processing and packaging of fruits and vegetables.

On the issue of dates, Senator Naseema Ehsan informed the committee that middlemen are buying dates at a rate of Rs700 per 40kg in Balochistan which is much lower than the market price.

Senator Mufti Abdul Sattar mentioned wastage of grapes and apples in Balochistan because of lack of proper storage facilities.

The official informed the committee that the government was establishing an industrial park in Khairpur for showcasing and selling of fresh fruits.

Responding to the queries of the senators, the official said the government has closed down the horticulture board because of poor performance. He said the centre of the board established in Quetta was also on the wrong place.

Senators suggested to the commerce ministry to investigate who was behind the establishment of the centre.

The committee was informed that the federal government has released Rs10 million to Balochistan to purchase machinery for apple grading.

On the late implementation of strategic trade policy framework, the committee recommended considering the proposals in the next federal budget.

Published in Dawn, April 27th, 2017