ISLAMABAD: A preferential trade agreement (PTA) between Pakistan and Afghanistan will be finalized by end of next month, Adviser to Prime Minister on Commerce on Investment, Abdul Razak Dawood said on Monday.
(more…)Tag: Afghan Transite Trade
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Pakistan allows Afghan transit trade through Wagah from July 15
ISLAMABAD: Pakistan has allowed Afghan exports through Wagah border crossing from July 15, 2020, said a statement on Monday.
At the special request of the Government of Afghanistan and with a view to facilitating Afghanistan’s transit trade, Pakistan has decided to resume Afghan exports through Wagah border crossing from July 15, 2020, after implementing COVID-19 related protocols.
With this step, Pakistan has fulfilled its commitments under Pakistan-Afghanistan Transit Trade Agreement (APTTA).
Pakistan has restored bilateral trade and Afghan transit trade at all border crossing terminals to pre-COVID-19 status.
Pakistan remains fully committed to further strengthening its bilateral relations with Afghanistan in all areas including trade, and to facilitate Afghanistan’s transit trade under APTTA.
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Foreign investors urge controlling Afghan transit trade
KARACHI: Foreign investors have urged the authorities to control Afghan Transit Trade to avoid incidence of smuggling and protect local industry.
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Misuse of Afghan transit trade should be checked
KARACHI: Smuggling through Afghan Transit Trade has always been the biggest threat for economic growth and hardly any sector has been left untouched by this menace.
Pakistan Business Council (PBC) in its proposals for budget 2020/2021 said that smuggled goods through the borders of Afghanistan, Iran China, India and the Afghan Transit Trade form a chunk of the informal economy, volume of which ranges between 50 to 60 percent of the formal economy.
It is costing the national exchequer in billions. Markets across the country are flooded with smuggled goods and local industries are struggling for survival as smuggled goods are not only easily available everywhere but are also attracting the buyers who prefer foreign merchandise Goods moving under ATT from Pakistan to Afghanistan should be charged with duties and taxes under the Pakistani laws and the same should be transferred to Afghan Government.
Secondly, the duties/taxes so paid should be deposited with State Bank in USD.
A quantitative restriction should be applied on goods moving under ATT on the basis of consumption.
Allow industry to fairly compete with unscrupulous imports, Government to benefit from increased revenue.
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Gwadar Port ready for Afghan transit trade handling
ISLAMABAD: The ministry of commerce has said that Gwadar Port is ready for bulk cargo handling to and from Afghanistan.
In a notification issued October 15, 2019, the ministry said that the bulk cargoes imported at Gwadar Port for onward transit to Afghanistan will be transported in containers after stuffing/loading the same into containers of international specifications.
The ministry has informed about the decision to Pakistan Ship Agents Association, Pakistan International Freight Forwarders Association, National Logistic Cell, All Pakistan Shipping Association.
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Pakistan Customs seizes huge quantity of Indian white sugar
ISLAMABAD: Pakistan Customs has seized huge quantity of Indian origin white sugar, which was to be used in Afghanistan.
Pakistan Customs Directorate General of Afghan Transit has seized a huge number of Indian origin consignments mis-declared as ‘White Sugar’, destined to be consumed in Afghanistan, said a statement on Friday.
After confirmation through laboratory tests, the sugar is found to be “unfit for human consumption. So far 4472 Metric Tons in172 Containers out of 258 Containers have been tested by Laboratories and reported as ‘unfit for human consumption’, the rest of the 2236 Metric Tons (86 containers) are under investigation, the statement said.
The harmful intake of this ‘expired sugar’ emanating foul smell and having turned brownish in colour would have seriously endangered the health of Afghan nationals had it made its way to the markets in Afghanistan.
In continuing to play its mandated role in ‘Protection of Society’, Customs at the operational level is further enhancing its enforcement efforts and information network, without compromising on trade facilitation.