ISLAMABAD: A parliamentary committee on Wednesday expressed concern over the continued decline in commodity exports, while the commerce ministry maintained its stance, outlining proposed policy measures to promote exports.

The National Assembly Standing Committee on Commerce, chaired by Jawed Hanif Khan, met to deliberate on legislative business and a Calling Attention Notice on export performance, alongside wider economic and trade issues, including the management of the trade deficit and prevailing investment trends.

Senior officials of the commerce ministry briefed the committee on the forthcoming Strategic Trade Policy Framework, sector-specific roadmaps for major export industries, and the National Tariff Policy 2025-30. However, no specific reasons were given for the export slump.

The bureaucrats outlined a range of additional measures aimed at lowering the cost of doing business, including rationalisation of industrial energy tariffs, concessional financing, timely clearance of exporters’ refunds, abolition of the Export Development Surcharge, and simplification of trade regulations.

However, they did not explain the extent to which these steps would translate into measurable cost reductions for exporters or into improvements in their competitiveness.

The committee was told that steps were being taken to retain GSP+ status, review existing trade agreements, and pursue new FTAs and PTAs, with officials reiterating the government’s commitment to maintaining a predictable, export-friendly environment through sustained reforms and public-private partnership amid global trade challenges.

Regarding the trade deficit, the ministry apprised the committee that Pakistan continues to face pressure due to limited export earnings and its reliance on remittances to support the external account. It was further stated that while remittances have provided short-term relief, sustainable economic stability requires a significant increase in exports.

The committee discussed the revision of irrational value-addition norms prescribed under SRO 760(I) 2013 for the import and export of precious metals and jewellery. Mr Hanif directed that the State Bank and all relevant stakeholders be called to comprehensively review and discuss the matter, and that the issue be taken up again in the next meeting.

The committee constituted a sub-committee on the Life Insurance Nationalisation (Amendment) Bill 2026 under the convenorship of MNA Dr Mirza Ikhtiar Baig. The chairman directed that all relevant stakeholders be invited to participate in the sub-committee’s deliberations and emphasised that the matter be examined comprehensively, with recommendations formulated to benefit both employees and stakeholders.

The CEO of State Life Insurance Corporation of Pakistan briefed the committee on the corporation’s strategic investment framework and the performance of its diversified investment portfolio. The briefing covered fund management, liquidity, dividend policy, and measures to stabilise the financial market.

Published in Dawn, February 5th, 2026