Karachi: Due to lack of concerted efforts and attention in Afghanistan, Pakistan is losing its trade share due to which Pakistan's trade volume for Afghanistan has decreased from 2.5 2.5 billion to less than ارب 1 billion while other countries including Iran. Therefore, opportunities have been created in the Afghan market to expand its business activities.
This was stated in a detailed report submitted by the Pakistan-Afghanistan Chamber of Commerce and Industry to a committee on Afghanistan headed by the Speaker of the National Assembly.
The report is based primarily on the policies of business-friendly SBPs, the absence of proper barter trade mechanisms, investment and joint venture policies, and unnecessary pressure and action by the FIA and FBR.
It states that in the absence of operational banking infrastructure in Afghanistan, banks refuse to process third party payments, impose duties, fiscal reforms, double taxation, unilateral imposition of duties and taxes by either government. Trade volume decreased due to free movement of goods vehicles, unnecessary documents and access to security checks and transit facilities in both the countries.
The report covers issues such as the absence of a business-friendly visa policy and facilities for traders from both countries, and the finalization of a transit trade agreement. Zubair Motiwala, chairman of the joint chamber, told the Express that the trade volume with Afghanistan is ڈالر 5 billion, but in the absence of a banking system in Afghanistan, payments through third countries should be facilitated.
He said that the government has not yet facilitated trade in rupee with Afghanistan and barter trade is not allowed.
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