Prime Minister Yousaf Raza Gilani is likely to approve the much awaited Trade Policy 2011 at a meeting scheduled for August 27, 2011. "As Prime Minister clears the Trade Policy, we will submit it to the federal cabinet for approval before its announcement by Commerce Minister Amin Fahim," sources said. The government will expand the positive list with India. The Commerce Minister is scheduled to visit India on September 26, 2011 along with a large business delegation. According to the presentation  being finalized for the Prime Minister, the Commerce Ministry will amend Import Policy Order to ensure that any amendment in the policy will not affect consignments which are shipped before the notification duly issued by the government. According to official documents prepared for the forthcoming proposed Trade Policy 2010-11, changes made in the import policy order from time to time would have prospective effect. There are numerous judgements of the superior courts wherein it has been propounded that the amended import policy order cannot be applied on such imports where goods were shipped prior to the amendment in IPO. Full story