Minister for Commerce Makhdoom Amin Fahim on Wednesday informed National Assembly that a set of changes in Import/Export Policy Order would be introduced shortly.

In a written reply to the House, the Minister ruled out the impression that the government was considering any proposal to introduce new trade policy.

He said that the cabinet has approved strategic trade policy framework (STPF) 2009-12 in July 2009 for three years, ending on June 30, 2012.

However, he said that a supplement for the STPF ie, changes in Import/Export Policy Order was announced in March 2011/ while another set of changes in the Import/Export Policy Order would be introduced shortly.

The approval in this regard from the ECC of the Cabinet has already been taken, he pointed out.

Fahim told the House that it was not true that Pakistan's exports have decreased in the international markets due to increase in the rates of electricity and gas in the country.

The analysis of the export data for the last five years indicates that the exports of Pakistani products in the international markets have increased except 2008-09, the major reason being the global economic recession which impacted global demands and ultimately resulted into decline in demand, he added.

Another reply submitted to House about the quantum of bilateral trade with Iran at present reflecting a difference of $410.438 million with total exports which stands at $161.941 million and imports with $572.379 million.

He said that Pakistan and Iran have a preferential Trading Arrangement (PTA), which became operational on September 1, 2006.

During the 18th Session of Pakistan-Iran JMC held on September 7-8, 2011 in Islamabad, he said that both sides agreed to explore the possibility of entering into a Free Trade Agreement (FTA) for substantial increase in bilateral trade.

In this regard, he said that Iranian side agreed to host a meeting in Tehran of experts from both the sides.

He further informed that Iranian authorities have been requested for the meeting in January 2012.

The finalisation and operationalisation of FTA will result in substantial increase in bilateral trade, he added.

Meanwhile, speaking on behalf of the Commerce Minister, Minister for Professional and Technical Training Mian Riaz Hussain Pirzada told the House that export of sugar was banned under the Export Policy Order (EPO) 2009, while 1,659,421 metric tones of sugar was imported from Brazil, Thailand, India, UAE and Saudi Arabia during the last three years.

He said that the country was facing sugar deficiency due to energy crisis, adding that the government has given approval to purchase 200,000 metric tons.

To another question, he said that around 600,460 metric tons of urea was imported to meet country's requirements during the last three years.

Minister for Commerce also told the House in a written reply that the baseline of textile export was $9.57 billion and that of total export was $17.68 billion in 2008-09 on the eve of STPF announcement.

Total textile export was recorded $13.80 billion and that of total export at $24.8 billion in 2010-11, he added.