The Ministry of Commerce ( ur, ); abbreviated as MoCom), is a

Cabinet-level A cabinet is a body of high-ranking state officials, typically consisting of the executive branch's top leaders. Members of a cabinet are usually called cabinet ministers or secretaries. The function of a cabinet varies: in some countries ...

ministry of the

Government of Pakistan The Government of Pakistan ( ur, , translit=hakúmat-e pákistán) abbreviated as GoP, is a federal government established by the Constitution of Pakistan as a constituted governing authority of the Administrative units of Pakistan, four provin ...

concerned with

economic growth Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of ...

and commerce development and promotion in Pakistan. The administrative head of the ministry is the

Commerce Secretary of Pakistan The Commerce Secretary of Pakistan (Urdu: ) is the Federal Secretary for the Ministry of Commerce. The position holder is a BPS-22 grade officer, usually belonging to the Pakistan Administrative Service. The Commerce Secretary is considered to be ...

. The political head,

Minister of Commerce A Commerce minister (sometimes business minister, industry minister, trade minister or international trade minister) is a position in many governments that is responsible for regulating external trade and promoting economic growth (commercial polic ...

, is required to be the member of

Parliament In modern politics, and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: Representation (politics), representing the Election#Suffrage, electorate, making laws, and overseeing ...

Departments

State Life Insurance Corporation

State Life Insurance Corporation of Pakistan in the state owned

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

company. It was formed in 1972 when life insurance business in Pakistan was nationalized and 32 life insurance companies were merged and consolidated.

Trading Corporation of Pakistan

Trading Corporation of Pakistan (TCP) is the principal trading arm of the Government of Pakistan. Established as an international trading house in 1967, the Corporation has gradually moved from barter, through commodity exchange to cash trade. TCP undertakes import of essential commodities to help ensure their availability to the common man at affordable prices.

Trade Development Authority

The Trade Development Authority of Pakistan (TDAP) was established in 2006. TDAP is the successor organization 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. It is designated as the premier trade organization of the country.

National Tariff Commission

The National Tariff Commission ( ur, , abbreviated at NTC) advises the

tariff A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and poli ...

measures or other form of assistance to provide protection to indigenous industry and promoting exports. Measures to counter dumping and other unfair measures adopted in respect of import and sale of foreign goods in Pakistan.

Pakistan Institute of Trade and Development

Pakistan Institute of Trade and Development, formerly Foreign Trade Institute of Pakistan (FTIP) was created in 1989 to provide specialized trainings to officers of Commerce and Trade Group. In 2009 the institute was restructured and it now acts as policy

Think Tank A think tank, or policy institute, is a research institute that performs research and advocacy concerning topics such as social policy, political strategy, economics, military, technology, and culture. Most think tanks are non-governmenta ...

also and training center on International trade.

Pakistan Tobacco Board

Pakistan Tobacco Board (PTB) is a statutory semi-autonomous department of Government of Pakistan under Ministry of Commerce. Pakistan Tobacco Board oversees the promotion of the cultivation, manufacture and export of tobacco and tobacco products in Pakistan.

Pakistan Reinsurance Company

Pakistan Reinsurance Company Limited (PRCL) is a public sector company under the administrative control of the Ministry of Commerce is the sole

reinsurance Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own insu ...

organization operating in Pakistan..Formerly called the Pakistan Insurance Corporation, Pakistan Reinsurance Company Limited was established in 1952. ;PRCL's Role in Economic Development The role of PRCL in economic development of Pakistan is significant. PRCL awareness of increasing requirements of insurance and reinsurance of a progressive economy is making great efforts in coming up to national expectations. This progress signifies the consolidation of the position, both at home and abroad, encouraging further expansion. ;International Cooperation/ Business Relations PRCL is actively collaborating and participating with its international counterparts in the field of insurance and reinsurance. This is being achieved under the aegis of

Economic Cooperation Organization The Economic Cooperation Organization or ECO is an Asian political and economic intergovernmental organization that was founded in 1985 in Tehran by the leaders of Iran, Pakistan, and Turkey. It provides a platform to discuss ways to improve dev ...

(ECO) with the object of reducing the outflow of Foreign Exchange and improving the standard of insurance and reinsurance services in the region. PRCL has been one of the pioneers and founder members of th
Federation of Afro-Asian Insurers and Reinsurers
(FAIR).

National Insurance Company Limited

National Insurance Company Limited (NICL) was established in 1976 to provide insurance cover to the Government/Semi Government organizations. National Insurance Company Limited is 100% owned by Government of Pakistan and working under the administrative control of federal ministry of commerce.

Pakistan Horticulture Development and Export Company

Pakistan Horticulture Development & Export Board (PHDEC), an autonomous body under the administrative control of the Ministry of Commerce has been mandated with the development of the horticulture industry of Pakistan with a focus on exports. Its functions include the provision of improved marketing infrastructure like the establishment of agro-processing zones, cold chain system, processing plants for value-added products. The implementation arrangements are preferably under the public-private partnership (PPP) modality with a clear exit strategy. PHDEC envisions the vitalization of a dynamic and market-driven horticulture sector, which is resilient, sustainable and responsive to meet the challenges of globalization

Directorate General of Trade Organizations

Directorate General of Trade Organisations is working as an attached department of Ministry of Commerce. It was established in 2007. The core function of this Directorate is to process the applications for grant of licenses and registration of trade bodies. It also oversees the elections and results of Office Bearers and Executive Committee members of trade bodies and ensures that Trade Organizations Act and Rules made there-under are being followed.

Pakistan Institute of Fashion and Design

The Pakistan Institute of Fashion and Design, commonly referred to as PIFD, (formerly known as Pakistan School of Fashion Design) is a design institute specialising in design education. It offers a four-year course of study leading to a bachelor's degree.

List of Commerce Ministers of Pakistan

References

External links

Ministry of Commerce

Board of Investment

Trade Development Authority of Pakistan

Trading Corporation of Pakistan

National Tariff Commission

State Life Insurance Corporation

Pakistan Tobacco Board

Pakistan Institute of Trade and Development

National Insurance Company Limited

Pakistan Institute of Fashion and Design

Directorate General of Trade Organisations

Pakistan Horticulture Development and Export Company

Textile Division
{{authority control 1973 establishments in Pakistan

Commerce Commerce is the large-scale organized system of activities, functions, procedures and institutions directly and indirectly related to the exchange (buying and selling) of goods and services among two or more parties within local, regional, nation ...

Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...

Textile industry of Pakistan