Islamabad: The Senate Standing Committee on Commerce, chaired by Senator Anusha Rahman, gave its strong backing to the final revision of the Barter Trade Framework under SRO 642(1)/2023, a move that has stirred debate over its implications for transparency, trade monitoring, and alignment with international sanctions.
The revised framework, now approved by the Economic Coordination Committee (ECC) for final submission to the Cabinet, incorporates committee recommendations and stakeholder input, but critics warn that changes in settlement periods and trade definitions could be exploited without strict oversight.
The amendment clarifies the scope of barter trade with Pakistan’s designated border countries—Iran, Afghanistan, and Russia—while redefining sanctioned entities in accordance with Ministry of Foreign Affairs notifications. Importantly, the previous “import followed by export” principle has been replaced with a more flexible “Imports/Exports” approach, and the settlement period for transactions has been extended from ninety to 120 days, raising concerns over delayed reconciliation and potential financial loopholes. Both the Ministry of Commerce and the Quetta Chamber of Commerce and Industry (QCCI) praised the committee’s efforts in streamlining the policy, emphasizing the anticipated facilitation of cross-border trade.
A major point of debate remains the reopening of the Badini Border. Following an inter-ministerial meeting, Pakistani authorities have requested diplomatic engagement with Afghanistan, while Customs Collectorate Quetta will require three months to deploy staff and complete necessary infrastructure.
Although the committee acknowledged development work on the Afghan side and ongoing preparations within Pakistan, questions were raised over the execution, oversight, and security of the border operations. The committee reiterated the need to station a Project Director from the Ministry of Commerce in Balochistan to maintain continuous coordination among stakeholders.
The committee also reviewed the revised policy framework for registering foreign business chambers in Pakistan. Foreign entities, particularly from China, reportedly face challenges due to language barriers and stringent no-objection certificate requirements. The committee recommended simplifying registration procedures to encourage international participation and remove ambiguities.
In addition, the Ministry of Commerce presented the five-year salary breakup of Chief Executive Officers heading State-Owned Enterprises under its control. The committee stressed transparency and uniformity in determining remuneration, insisting that any revisions be prospective and linked to performance benchmarks to ensure accountability and fairness across all SOEs.
The session saw active participation from Senators Sarmad Ali, Amir Waliuddin Chishti, Bilal Ahmed Khan, and Muhammad Tallal Badar, along with secretaries from the Ministries of Commerce, Foreign Affairs, Interior, and senior officials from relevant departments.
