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Senate body on finance chairman calls for closure of TDAP

Senate body on finance chairman calls for closure of TDAP

ISLAMABAD: Senate Standing Committee on Finance Chairman Senator Saleem Mandviwalla has called for closure of Trade Development Authority of Pakistan (TDAP), a national body responsible for promoting exports, saying, the body has become a non-functional, failed and useless body and burden on exchequer.

Senator Mandviwalla, who is also board member of TDAP, criticised the performance of TDAP, which has failed to recommend a national policy for maximising goods and services exports to the TDAP Board.

In a statement issued from his office, Senator Mandviwalla said, “I have been disappointed by the affairs of TDAP and I am considering resigning from the office as this government body has failed to develop a consistent, sustainable and result oriented, holistic exports development plan”.

“TDAP has failed to forge an effective liaison with private and public stakeholders for enhancing country’s exports, he added.

Mandviwalla revealed that TDAP chairman and his whole team could not encourage and promote research in trade and policy related studies that may have facilitated in formulating an effective export policy and plan.

In the last three years, TDAP has done nothing to increase the exports from Pakistan and the whole body is looking at the Ministry of Commerce and Finance to help them, he said.

Terming exports decline ‘worrisome’, he said in fiscal year 2015 exports went down by about 4.8pc to $23.9b from $25.11b in FY2014. The $27b target set for FY15 was missed by a wide margin of 10pc.