Islamabad, Feb 25: The Commerce Ministry has utilized only 10 percent of the funds allocated to it under the Public Sector Development Program (PSDP) for the fiscal year 2025-26, the Senate Standing Committee on Commerce was informed on Monday.
Secretary Commerce explained that this limited expenditure was due to strict austerity measures imposed by the federal government in FY26, which led to the halting or cancellation of several planned expenditures.
The committee also reviewed the performance of Pakistan’s trade missions abroad. While 57 missions are currently operational, 10 newly established missions remain vacant. The Commerce Secretary assured the committee that appointments would be made soon to fill these vacancies.
Additionally, new trade missions have been opened in Greece, Baghdad, and Kuwait, with officials confident that the positive effects of these missions will soon become evident. Trade and Investment Officers (TIOs) have played a key role in providing recommendations regarding export potential.
The committee further discussed the budget and expenditure of the Trade Development Authority of Pakistan (TDAP). Officials revealed that Rs. 1.73 billion out of the Rs. 2.4 billion allocated for TDAP had been released, with Rs. 565 million spent on salaries over the past six months. Promotional activities have consumed Rs. 246 million.
Major expos from the previous year, such as FoodAg, Texpo, and EHCS, generated a turnover of $2.42 billion. Committee members also urged TDAP to focus more on minerals and suggested that it might be worthwhile to consider minerals as a separate industry to boost the sector’s growth.
