Pakistan, Afghanistan on the trail of financial integration

To be able to facilitate Afghan merchants and businessmen, Pakistan made sure choices to encourage and increase bilateral commerce between the 2 international locations. The choices had been introduced by the Minister for Commerce, Engr. Khurram Dastgir Khan, in a crowded press convention held in Embassy of Pakistan right here.

Highlighting particulars of the selections to facilitate Afghan Transit Commerce, the minister mentioned that Pakistan had decreased the scanning technique of Afghan transit cargo from 100% to 20% and now solely 20% of the cargo can be subjected to scanning resulting in a clearance of 90% of Afghan consignments from 24 to 48 hours.
Earlier, 100% of the cargo needed to bear scanning course of. He mentioned that the federal government has additionally  allowed Afghan vans to hold items not solely to Wagah Border however to  deliver Pakistani items on their approach again toAfghanistan.   He additionally highlighted the efforts made by the Authorities of Pakistan to operationalise Pakistan Railways for transit of Afghan cargo.
Pakistan Railways is within the technique of arranging to hold 400 containers of Afghan transit cargo per week to Torkham and Chaman by 1st July 2015. He mentioned that the federal government has taken these choices to deal with the considerations and long-standing calls for of Afghan merchants, says a press launch acquired right here immediately from Kabul.
Talking on the event, the minister mentioned that the Authorities of Pakistan connected utmost significance to its ties with Afghanistan and needed to enhance its financial relations with its brotherly nation.  He mentioned that it was the earnest want of Pakistan to advertise financial integration with Afghanistan which might deliver prosperity not solely to the 2 international locations but in addition to your complete area.

He expressed satisfaction over the development within the commerce relations between the 2 international locations, saying financial ties are gaining momentum through the current months on account of enhanced dialogue, excessive degree visits and confidence constructing measures undertaken by the respective governments of the 2 international locations.

Concerning his conferences with President Ashraf Ghani, Chief Government Officer Dr. Abdullah Abdullah, Nationwide Financial Advisor, Dr. Omar Zakhilwal and his counterpart, Mr. Muzammil Shinwari, the minister mentioned that he held very fruitful discussions with them which might go a great distance in selling financial relation.  He mentioned that he additionally raised varied points, with the Afghan President and Commerce Minister, that are required to be applied by the Afghan authorities.

He enunciated the problems like finalization of the draft on Preferential Commerce Settlement (PTA) between Pakistan and Afghanistan, presently mendacity with the Afghan authorities for approval; elimination of economic ensures on Pakistani items that are being charged at 110% of the customs obligation and tonnage charge at charge of $100 per 25 ton on items that are in transit to Central Asia; Avoidance of double taxation settlement; Problems with a number of entry visas for Pakistani businessmen and expert employees; and lifting of ban on transit of LPG by way of Afghanistan to Pakistan.

The minister defined the advantages of PTA, saying it could assist in giving extra market entry to Afghan items in Pakistani market and would additionally tackle situation of smuggling whereas double taxation settlement would facilitate funding in each international locations.

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