The Senate Standing Committee on Commerce was informed on Wednesday that protocols for exporting donkey skins and meat to China have been finalized. Officials from the commerce ministry disclosed this during a briefing chaired by Senator Anusha Rahman. The committee also reviewed the performance of attached departments within the commerce division.
Ahsan Ali Mangi, the additional secretary of the Commerce Ministry, informed the committee that the protocol for exporting donkey skins has been finalized, with plans underway to include donkey meat as well. Additionally, export protocols for onions, potatoes, and chillies to China have also been finalized.
Senator Rahman raised concerns noting that Pakistan produces only one-fifth of its demand for onions, making it challenging to justify their export to China.
The ministry also proposed establishing nine new missions in countries including Malaysia, Iraq, Oman, Tanzania, Kenya, and Mozambique.
Officials briefed the committee that the Transit Trade Agreement with Central Asian countries, particularly Uzbekistan, Tajikistan, and Kazakhstan, has been finalized. Pakistani trucks currently transport goods worth $2.2-3 million monthly, with expectations of increased trade with these countries.
Rafeo Bashir Shah, Chairman of the Trading Corporation of Pakistan (TCP), informed the committee that TCP’s debts have reached Rs281 billion since 2008, accruing Rs160 million in interest daily. Various governmental entities owe TCP, including the Utility Stores Corporation and food departments of Punjab, Sindh, Balochistan, KP, and the Ministry of Industries and Production.
Commerce Minister Jam Kamal Khan warned of a looming crisis akin to circular debt if the TCP’s debt issue remains unresolved. The committee decided to refer the matter to the Senate Finance Committee for urgent resolution.
The committee also received briefings from officials of State Life Insurance (SLIC) and National Insurance Company Limited (NICL). SLIC’s CEO highlighted that the company has become profitable, with increased public trust. SLIC is collaborating with provincial governments to implement the Sehat Card nationwide, enhancing the performance of both public and private hospitals.
NICL’s CEO reported that NICL, as the second-largest insurance company in Pakistan, achieved a growth rate of 20.29% in FY24, down from 29.66% in FY23.
