KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) expressed concern on Thursday over a recent discussion by the Senate Standing Committee on Commerce about shifting of Trade Development Authority of Pakistan’s (TDAP) head office from Karachi to Islamabad.
“Relocation of TDAP’s head office to Islamabad would only serve the purpose of those who do not want to serve in Karachi and want to completely render it dead for the business community in the capital city as there is negligible business activity there,” a statement said on Thursday.
“Karachi is the hub of trade and commercial activities in Pakistan and it is illogical to consider shifting of a trade facilitation organisation anywhere else. The FPCCI strongly opposes any such move to shift this important trade promotion organisation from Karachi,” it added.
Karachi is a port city and the government’s key financial institutions including the State Bank of Pakistan (SBP) and other important trade related institutions such as Pakistan Customs and Civil Aviation Authority are headquartered in Karachi. In other countries of the world, such institutions are also located in their respective trading hubs.
TDAP – the top body responsible for promoting exports – was established on November 8, 2006 under a Presidential Ordinance within the Ministry of Commerce. It is the successor organisation to the Export Promotion Bureau (EPB) and is mandated to have a holistic view of global trade development rather than only the ‘export promotion’ perspective of its predecessor.