Senate Standing Committee on Commerce and Textile Industry in its meeting on Friday has asked the ministry of commerce to take immediate measures to tackle the issue of under invoicing of I.T. products in the country. The Committee directed the Member Customs to bring a detailed paper on the procedure adopted for acquiring prices and mechanism to bring under surveillance those who do over or under invoicing to the Committee in ten days.
The meeting was held under the Chairmanship of Leader of the House in Senate Senator Syed Shibli Faraz here at the Parliament House and was attended among others by Senator Dilawar Khan, Nuzhat Sadiq, Nauman Wazir Khattak, Dr. Ghous Muhammad Khan Niazi, Advisor to Prime Minister on Commerce Abdl Razzaq Dawood, Secretary Commerce and senior officers from the Commerce ministry. The Committee was given a briefing on the recent trip of China and the subsequent FTA negotiations during the trip, the upcoming STPF 2018-23 and import and export performance of Pakistan for the 1st and 2nd quarter of Financial Year 2018-19.
The Committee was told the National Tariff Policy is being taken before the cabinet and it will see an enhanced role of commerce ministry than before. The Committee members called for private sector commercial counsellors, improvement in balance of trade and tackling de-industrialisation.