ISLAMABAD: Prime Minister Raja Pervez Ashraf Tuesday said that trade policy should be tailored to benefit the people of Pakistan and termed Strategic Trade Policy Framework (STPF) 2012-15, prepared by the Ministry of Commerce, the need of the hour.

The prime minister stated this while chairing a meeting at the Ministry of Commerce, to review the STPF 2012-15. The visit to the Ministry of Commerce was first among a series of visits planned by the Raja Pervez Ashraf to review working and performance of various ministries.

The prime minister expressed concern over the trend in the past few years where the market share of Pakistan had shrunk.

He said the lengthy and complicated procedures involved in operating business in Pakistan might be one of the reasons and directed the Ministry of Commerce to analyze the reasons behind this decline and put up suitable recommendations for inclusion in STPF for correction in this trend.

“If we are to compete in the world we have to augment our system efficiencies,” the prime minister stressed.

Raja Pervez Ashraf appreciated the STPF document prepared by Ministry of Commerce and said that to keep pace with ever increasing inter-dependence of world economies and flow of goods and services across borders, periodical review and realignment of trade policy is imperative.

The prime minister urged that trade policy should not only address big businesses but also cater for small businesses which would create more employment opportunities. He directed the minister for commerce to identify niches which would give Pakistan a comparative advantage.

He said that the people of Pakistan are creative, capable and endowed with entrepreneurial skills, if appropriate facilities are provided to them they can do wonders.

The meeting was attended by Makhdoom Amin Fahim Minister for Commerce, Dr. Abdul Hafeez Shaikh Minister for Finance, Dr. Nadeemul Haq Deputy Chairman Planning Commission, Abbas Khan Afridi Minister of State for Commerce, Saleem H Mandviwala Chairman BOI, Yaseen Anwer, Governor State Bank, Ali Arshad Hakeem Chairman FBR and other senior officials of the relevant ministries.