Afghan Transit trade: Pakistan imposes restrictions after annual losses of Rs 185 billion
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Islamabad: The federal government has decided to impose restrictions on the imports of luxury items through Afghan transit trade.
According to details, it has been revealed that the national treasury has incurred an annual loss of more than 185 billion rupees from Afghan transit trade, prompting the federal government to impose restrictions on the imports of luxury items through Afghan transit trade.
Sources say that this decision to impose restrictions on the imports for items such as tires, fabrics, cosmetics, and tiles, among others, was made after consultation with the Special Investment Facilitation Council's apex committee.
According to sources, in just one year, the volume of Afghan transit trade has increased from $2.5 billion to $6.71 billion, mitigating the effects of income restrictions from Pakistan's side. Items subject to income restrictions or increased duties are now being demanded in Afghan transit trade.It is reported that due to lower duties in Afghanistan, most items are smuggled and sold in Pakistan.
The Ministry of Commerce has recommended that goods should be insured and bank guarantees obtained for 100% of their value.
