ISLAMABAD, Aug 17: The Pakistan Institute of Legislative Development and Transparency (PILDAT) will hold a briefing on Monday for parliamentarians on the “WTO Regime and Implications for Pakistan”.

The briefing to be held here at a local hotel aims at raising awareness among the legislators about the WTO regime and its implications for Pakistan.

Under the current international economic system, trade liberalization is believed to be a major contributors to the economic development. This ideology is based on the belief that the market is the most effective system of allocating resources and maximising growth.

The World Trade Organization was established in 1995, with the objective to reduce trade barriers by establishing a system of international trade rules.

There are many conflicting points of view on the WTO, and the Pakistan Institute of Legislative Development and Transparency without subscribing to any of these views, wishes to discuss the subject.

Though the WTO agreements are negotiated by ambassadors and ministers who represent the government, it is important for parliamentarians to be involved in the process of developing the government’s position.

Currently, there is a lack of meaningful discourse and information on this issue, and the stakeholders concerned are not clear about their positions.

The briefing will provide an opportunity to the parliamentarians to develop a better understanding of the World Trade Organization related issues and lead to more proactive debate on the subject.

Federal Minister for Commerce and Trade Humayun Akhtar will inaugurate the briefing while Privatization Commission chief Hafeez A. Sheikh will preside over the opening session.

Speakers included Ahmed Bilal Mahbub, executive director of the Pakistan Institute of Legislative Development and Transparency, Dr Abid Sulehri from the Sustainable Development Policy Institute.

National Assembly Speaker Chaudhry Amir Hussain will be chief guest at the concluding session of the briefing.—APP

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