ISLAMABAD - The government is likely to announce Strategic Trade Policy Framework (STPF) 2012-15 in the last week of ongoing month of August setting exports target at around $95 billion for next three years, it has learnt on Sunday.

Official sources has informed TheNation that government would fix exports target for next three years keeping in view the market access through bilateral and multilateral arrangements. The exports target for next three years (2012-15) is likely to be around $95 billion in the Strategic Trade Policy Framework, which might be announced in last week of August. The new framework of STPF 2012-15 has come up with a new idea among others of projecting export target for three years instead of earlier practice of the annual target.

Secretary Commerce Munir Qureshi had already informed the media that exports target to be achieved in three yearly phases is being set keeping in view the European Union Trade Incentive Package, possibility of Generalised System of Preferences (GSP) Plus status, improvement in market access through bilateral and multilateral arrangements. The proposed trade policy focuses on 12 areas to improve export promotion from the country. The ministry would introduce many initiatives during the next policy cycle to promote exports of agro-processed products, especially in the region.

It might be mentioned here that Pakistan’s exports declining side from last financial year 2011-12, as it had declined by 4.7 per cent to $23.641 billion against $24.810 billion in the corresponding period last year 2010-11.Therefore sources said that government would focus on increasing exports in next three years (2012-15).

Sources informed that Commerce Ministry is likely to present draft of Strategic Trade Policy Framework (STPF) 2012-15 before Prime Minister Raja Pervaiz Ashraf for final approval after Eidul Fitr.