ISLAMABAD, Jul 24 (APP):The business community Sunday hailing the decision of government for trade with Afghanistan in Pak currency viewed that it will further strengthen economic cooperation between two countries besides promising prosperity in the region.
Talking to a delegation of industrialists and traders led by Khurram Gulzar Coordinator to Federal Tax Ombudsman Meher Kashif Younis said Pak-Afghan trade is a potential source for creation of livelihood for thousands of people and will help usher an era of progress,development and prosperity in both brotherly Muslim countries, said a press release.
He said government took bold decision to allow trade of all products for a period of one year with Afghanistan in the rupee via through land routes owing to the non-availability of tradeable currency through banking channels which was long standing demand of the business community that would also support our balance of payment.
He believed the regime will remain in place until the restoration of regular banking channels in Afghanistan.
He said Afghanistan was the third largest export destination for Pakistani products but trend changed in the last couple of years.He said Pak Afghan bilateral trade has a vast potential of $billion annually which seems to be eased now after this epoch making decision.
He urged the government that scanners installed at the Torkham border urgently needed to be doubled to expedite smooth goods handling.
Meher Kashif Younis said poor trade infrastructure at border crossing points were also to be modernised and upgraded on scientific lines to fully ensure uninterrupted flow of trade volume on either sides.
He was of the opinion that at a time when the economy desperately needs a push for sustainable growth, Pakistan can capitalise on the existing opportunities by increasing the scale and depth of economic engagement with Afghanistan.
Leader of the delegation Khurram Gulzar said similarly Pakistan has started importing coal from Afghanistan against pak rupees to meet needs of different coal fired power plants which he added would help Pakistan cut the annual import bill by $2.2billionn, he added.
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