ISLAMABAD - The Government is likely to announce the much delayed new Trade Policy 2010-11 in the end of ongoing month (August), sources informed TheNation here on Friday. According to sources, the Ministry of Commerce is planning to give a detailed presentation to Prime Minister Syed Yousuf Raza Gilani in the third or fourth week of the current month. After giving presentation to the Premier, the draft of the new policy would be tabled before the Cabinet for final approval. It is worth mentioning here that government announces trade policy in the second or third week of July every year. However this year due to several issues including non-availability of Prime Minister Syed Yousuf Raza Gilani, as he is to be given presentation on new policy, Pak-Afghan Transit Trade Agreement negotiations, and flood situation had delayed the trade policy. According to sources, the Ministry of Commerce is all set to present the new Trade Policy 2010-11 and it has already given a detailed presentation to the Commerce Minister Makhdoom Amin Fahim, however, it is seeking time from the Prime Minister for presentation of the policy. Due to the given problem, the Trade Policy hits snags and now it is expected that it would be unveiled in the last weeks of the ongoing month. The Government was earlier expecting to set $ 21.5 billion export target for the ongoing fiscal year, however, according to the sources, now the Government might fix less target than $ 21.5 billion, because the floods have devastated the agriculture sector especially cotton crop. Cotton is commonly used in textile sector, which is 55 percent of the overall exports of the country. Therefore sources believed that the Government would consider slashing the proposed export target.