ISLAMABAD: The Senate Standing Committee on Commerce condemned State Bank polices that has paralysed the trade industry of the country.

The Chairman Committee Senator Zeeshan Khanzada while presiding a meeting, said that the export figure is coming down to zero, remittances has come to a halt and the industry is under a constant threat. “The State Bank should review its policies to reinstate the trade industry. The Ministry of Commerce should take concrete steps to save the trade industry from falling apart,” he added.

The issue of importing gold was also raised. The Ministry of Commerce updated the committee that State Bank has disallowed the import of Gold, other than in the shape of remittances.

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Khanzada also demanded that the power sector should give 100 pc concessionary benefits according to the figure of export. The ministry inquired that minute analytic work is being done in order to provide concessionary regime for export. The committee has also directed to hold meetings with the state bank on reforms

The meeting was attended by Deputy Chairman Mirza Muhammad Afridi, Senator Mohammad Abdul Qadir, Senator Palwasha Muhammad Zai Khan, and Senator Fida Muhammad. Senior officials from the Ministry of Commerce and other attached departments were also in attendance.